REGINA, Sask. — A portion of the deal between the City of Regina and Brandt to purchase several buildings at the Regina Exhibition Association Limited (REAL) is being pushed back from its original closing date.
The closing date had been set for Tuesday, but the city says the appropriate time is being taken to finalize the deal.
“Given the size and scope of the transaction, the parties are taking the appropriate time to complete and finalize the detailed agreements and closing requirements," said the city in a news release.
The current transaction approved by council in May includes Brandt buying the Canada Centre, Agribition Building, Brandt Centre and Queensbury Convention Centre.
Brandt also intends to lease and operate other REAL assets for years to come, including the Bunge International Trade Centre, Mosaic Stadium, The Co-operators Centre, AffinityPlex, and Confederation Park.
Despite pushing the deal down the line, the city has no worries about the deal closing.
“The parties continue to make progress toward closing. The closing timeline is being updated to accommodate this work, and further information will be provided as the process advances.”
In the meantime, REAL will continue operating the buildings with all events planned remaining unchanged.
