 | Somerset Entertainment Income Fund Acquires Compass Productions Business |
2005
| Areas | Banking and Finance Law, Corporate Finance and Securities, REITs and Income Securities, Tax |
Summary
Goodmans represented Somerset Entertainment Income Fund in connection with the indirect acquisition of the music production and distribution business of Minneapolis-based Compass Productions, Inc. for a purchase price of up to approximately US$50 million. The transaction was funded in part from the proceeds of a $32,550,000 public offering of units through a syndicate of underwriters led by BMO Nesbitt Burns, RBC Capital Markets and TD Securities, and from the proceeds of a $42 million credit facility entered into with TD Bank and Bank of Montreal.
