Raincoast Buys AMS Stake 

by Joshua Kerbel -- Publishers Weekly, 9/15/2008 10:00:00 AM

Raincoast Books Distribution of Vancouver has taken advantage of AMS's ongoing bankruptcy restructuring to repatriate the 25% of the company that was not owned by management, with Mindell Holdings Ltd, whose president is listed as David Mindell, scooping up the shares that had been owned by AMS. Mindell is one of the current owners of the company and a member of Raincoast Executive. The share purchase agreement put a C$3.5 million price tag on the 25% stake, giving Raincoast an approximate valuation of C$14 million dollars. The deal was approved by the U. S. Bankruptcy Court last month. Raincoast confirmed the transaction had taken place, and said that Allan MacDougall retains the majority ownership stake in Raincoast, but would release no further details. Raincoast is now 100% Canadian owned.