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Broadcom Corp. Chairman Henry Samueli and his wife, Susan, completed their purchase of the National Hockey League’s Mighty Ducks of Anaheim from
Walt Disney Co.
Financial terms were not disclosed, although news reports estimated that the Samuelis paid around $75 million for the Ducks and Disney Ice, the team’s practice rink.
The sale was approved by the NHL’s Board of Governors last Thursday.
The Ducks on Monday also hired Brian Burke as executive vice president and general manager. Burke previously was president and general manager of the Vancouver Canucks. He will report to Michael Schulman, the team’s new chief executive, who is managing director of H & S; Ventures, a holding company owned by the Samuelis.
– International Aluminum Corp.
named Ronald L. Rudy chief executive, replacing C.C. Vanderstar, who will continue to serve as chairman. Vanderstar, the company’s founder, had served as chief executive of the Monterey Park-based aluminum and vinyl products manufacturer since 1963. In February, the company said Rudy would replace David C. Treinen as its president and chief operating officer. Rudy had been the senior vice president-operations since 1995.
– Homestore Inc.
said that as part of a judgment from a Delaware Chancery Court, it advanced a payment of about $4 million to former Executive Vice President Peter Tafeen for defense costs incurred related to lawsuits stemming from the company’s restatement of past financial statements. The Westlake Village-based online real estate company expects to advance more defense costs and record additional expenses, depending on the length and outcome of the case.
Tafeen would be required to repay the funds if Homestore wins its appeal or if he isn’t entitled to indemnification under Delaware law, the company said in a statement.
– Tarrant Apparel Group
said it is abandoning a plan to acquire Qorus.com Inc. and have that company run its Private Brands business. Under the proposed reverse merger, the L.A.-based apparel company would have sold its Private Brands unit, which makes brands such as American Rag CIE, to Qorus in exchange for 97 percent ownership of the company. Chairman Gerard Guez said in a statement that the company decided that keeping the unit within its Tarrant Apparel Group will give it the best opportunity to grow.
– Evergreen Realty REIT Inc.
completed the acquisition of two self storage facilities in San Antonio for $5.1 million in a $55 million private offering of securities. Financing for the Attic Self Storage-Laredo and Attic Space Blanco Road was through Morgan Stanley with a 5.63 percent fixed interest rate, five-year term. The seller of Laredo was Lifshutz Cos., L.P.; the seller of Blanco was Berlee Lumber Co., Pasadena-based Evergreen said.
