MONTREAL – Molson Coors president Peter Swinburn says the company is in a wait-and-see mode before it decides what to do with its minority stake in the Montreal Canadiens.
Swinburn says Molson Coors is waiting for George Gillett, the majority owner of the National Hockey League team, to make his move. Gillett has appointed financial advisers to explore a recapitalization of his assets, which could include the sale of the Canadiens.
Molson Coors owns about 20 per cent of the team, while Gillett owns the rest.
Swinburn says Molson Coors officials have been in contact with Gillett.
Swinburn made his comments today at the U.S.-Canadian brewer’s annual meeting in Montreal.
Shareholders paid tribute to Eric Molson, who is leaving as vice-chairman of the board and being replaced by his son Andrew.