03 November, 2006

Canada: Bick Rock Brewery delayed the international corporate reorganization

Units of the Big Rock Brewery Income Trust fell 15.5 per cent November 02 after the brewer delayed plans for an internal reorganization to maximize cash flows in the wake of Ottawa's plans to tax income trusts, London Free Press published November 03.

On November 01, Big Rock said the proposed changes prompted the company to delay a corporate reorganization it had announced in June.

At the time, the company said it wanted to restructure to carry on business as a limited partnership directly owned by the trust in a move to increase its cash available for investors.

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