Postmedia sells Toronto printing plant for $30.5M

Media company acquired the facility as part of its agreement to buy Sun Media's English-language properties in 2015.

TORONTO — Postmedia Network Inc. has struck a deal to sell a printing plant in Toronto to Rice Group, a commercial and industrial developer, for $30.475 million that will be used to help pay down debt.

The media company acquired the facility in west Toronto as part of its agreement to buy Sun Media’s English-language properties in 2015.

The transaction is expected to close by Aug. 30.

Postmedia says it will enter into a lease for part of the property for up to 10 years.

News from © Canadian Press Enterprises Inc. 2016

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