Qintex Negotiating to Place Debt: The Australian-controlled...

Qintex Negotiating to Place Debt: The Australian-controlled company that has agreed to acquire MGM/UA Communications said it is negotiating with up to 10 investors for the private placement of common and preferred stock worth more than $500 million to pay for the $600-million acquisition. After the merger, MGM/UA will change its name to Qintex America but continue to run its entertainment operations under the United Artists name. About 48% of Qintex America’s common stock will be controlled by Qintex Group, the Australian parent company.