Shaw backs out of 20percent purchase of Canwest:
http://www.calgaryherald.com/Shaw+Canwest+assets+billion/2981628/story.html
Quote, "Goldman Sachs certainly was key to being able to resolve the entire problem here, and we’re pleased we were able to come to a resolution that was suitable to both of us. So we’ve eliminated the litigation risk that could have held Canwest up for some time in the CCAA (company creditors arrangement act) process."" http://www.calgaryherald.com/Shaw+Canwest+assets+billion/2981628/story.html#ixzz0muTCZlT2
Deal to sell Goldman Sachs CW Media Holdings to Shaw, not an arms length transaction from expropraiting Canwest shares
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Price for Canwest shareholders 1.5 billion to by Goldman Sach CW Media Holdings put.
http://www.thestar.com/business/article/803719--shaw-s-canwest-deal-shifts-media-landscape
"The price tag includes $700 million in cash that Shaw will spend to buy the piece of a key Canwest Global subsidiary currently owned by New York-based investment bank Goldman Sachs."
Deal not approved by CCAA filing. Canwest shareholders ripped off, no reason for CCAA filing now. "The Canwest board and an Ontario bankruptcy judge had previously approved a deal for Shaw to buy at least 20 per cent of Canwest. Shaw’s offer was conditional on reaching a deal between it and Goldman Sachs that was acceptable to Canwest’s creditors and the court."
