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Cookie Jar Group acquires CINAR for US$143.9 million

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Cookie Jar Group

On March 15, 2004, the Cookie Jar Group, an investor group comprised of Michael Hirsh, Toper Taylor, TD Capital Canadian Private Equity Partners and OMERS Merchant Banking Group, completed the acquisition, by way of plan of arrangement, of all the shares of CINAR Corp., a Montreal-based children's entertainment and education company. The total cash consideration of approximately US$143.9 million paid to the former shareholders of CINAR was financed in part by a debt facility provided by the Royal Bank of Canada. In addition, CINAR shareholders received one contingent cash entitlement for each share, entitling them to share in the net proceeds of certain litigation after taking into account various adjustments. In connection with the debt facility, the investor group was represented by Fasken Martineau, with a team that included Jonathan Levin, David Salomon, Walter Palmer, Gary Fogler, Claudia Feldkamp and Kevin Clinton in Toronto, and Robert Paré, Gilles Leclerc, Mireille Tremblay, Daniel Picotte, Stéphane Gilker, Serge Guérette, Chloé Archambault and Alain Ranger in Montreal. Fasken Martineau also acted on behalf of TD Capital Canadian Private Equity Partners and its Montreal office assisted in connection with the arrangement agreement and the plan of arrangement.



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