July 24, 2009
Sandusky, OH — Cedar Fair Entertainment Company announced that it has finalized an agreement to sell all of its undeveloped land adjacent to the Canada's Wonderland theme park near Toronto.
The 87-acre property is expected to sell for approximately $50 million and the proceeds will be entirely used to reduce Cedar Fair's debt.
"The sale of this land is another step in our commitment to reduce our debt and strengthen our financial position for the long term," said Dick Kinzel, Cedar Fair's chairman, president and chief executive officer.
See related: cedarfair.com
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