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Article: Family Golf Centers, Inc. to Acquire 14 Golf Centers From Golden Bear Golf, Inc.
- Article from:
- Business Wire
- Article date:
- June 17, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MELVILLE, NY--(BUSINESS WIRE)--June 17, 1998--Family Golf Centers, Inc. (NASDAQ, NM: FGCI) announced today that it has entered into a definitive agreement to acquire Golden Bear Golf Centers, Inc., which owns, leases or manages 14 golf facilities in 10 states under the Golden Bear Golf Center brand. Golden Bear Golf Centers, Inc. is currently a wholly-owned subsidiary of publicly held Golden Bear Golf, Inc. (NASDAQ, NM: JACK).
Pursuant to the terms of the Stock Purchase Agreement, in exchange for all of the capital stock of Golden Bear Golf Centers, Inc., Family Golf will pay approximately $32 million in cash, minus certain indebtedness and liabilities ...