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Cedar Fair looking sell Valleyfair and Worlds of Fun
Posted by: CarolinaCoasterFreak | 09 March 2009 18:33

Cedar Fair Entertainment Company announced it will decrease its annual distribution rate to $1.00 per limited partner unit.

The Company currently pays approximately $105 million in distributions to its investors on an annual basis. A $0.92 reduction in the per-unit rate, along with scheduled debt repayments and interest savings on the lower debt balance, will allow the Company to reduce its debt by approximately $200 million over the next three fiscal years. This distribution reduction is a first step in Cedar Fair’s strategy to reduce debt and strengthen its balance sheet.

In addition, the Company continues to pursue the sale of excess land in the Toronto and Cleveland markets and continues to discuss the potential sale of California’s Great America, in Santa Clara, California, with the San Francisco 49ers. It has also completed a strategic review of its assets and has decided to explore the potential sale of Worlds of Fun, in Kansas City, Missouri and Valleyfair, in Shakopee, Minnesota. The Company said it would be premature to speculate on either the price or timing of any potential transaction.

Related Links
  • Worlds of Fun - Review
  • Worlds of Fun - Pictures
  • Worlds of Fun - Info
  • Worlds of Fun - Official Site

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