Magna Entertainment Corp. (MECA, MECA.TO) said Friday that it has closed the sale of 225 acres of excess real estate located in Ebreichsdorf, Austria to a subsidiary of Magna International Inc. for use in its automotive business.Of the net sale proceeds of 20.0 million (about US$31.6 million), 7.5 million were used to repay a portion of the company's 15.0 million term loan and the balance will be used to partially repay the company's bridge loan with a subsidiary of MI Developments Inc., Magna Entertainment's controlling shareholder.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.