We recently assisted Sun Entertainment Holding Corporation (“Sun Entertainment”) with the structuring and completion of its going private transaction, whereby a small group of majority shareholders became the sole shareholders of Sun Entertainment and the company was voluntarily delisted from the TSX Venture Exchange.  Sun Entertainment’s going private transaction was completed pursuant to new Articles which were approved by the disinterested shareholders of Sun Entertainment and provided for the redemption of the outstanding common shares held by the minority shareholders of Sun Entertainment at a premium to market price.  Sun Entertainment controls the rights to approximately 6,000 classic Rock & Roll, Rockabilly, Country, Rhythm & Blues, Gospel and Bluegrass titles from the 1950s, 1960s and 1970s, including popular recordings by Johnny Cash, Elvis Presley and Jerry Lee Lewis.

Going private transactions are becoming increasingly popular given the current market climate, and there are several ways to structure a going private transaction.