Regions International
Magna Entertainmen Closes Excess Real Estate Sale
April 14, 2008

Magna Entertainment Corp. has closed the sale of 225 acres of excess real estate located in Ebreichsdorf, Austria, to a subsidiary of Magna International Inc. for use in its automotive business, it has announced. The net sale proceeds were $31.6 million. MEC, North America's largest owner and operator of horse racetracks, based on revenue, acquires, develops, owns and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. MEC also develops, owns and operates casinos in conjunction with its racetracks where permitted by law.

 
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