OTTAWA, Oct. 9 /CNW/ - Bata Limited and the Aga Khan Development Network are pleased to announce that the property which includes the Bata International Centre at 59 Wynford Drive in Toronto has been conditionally sold to an agency of the Aga Khan Development Network. The closing of the transaction is expected to take place before the end of this year. As part of the transaction Bata will lease the office facility for an agreed period of time.
Thomas G. Bata, Chairman of the Bata Shoe Organization, stated, "We are pleased with the expected sale of the property and the leaseback. This will allow us time to locate to new premises that are more suitable for the continued growth and development of our business. This property has served us well for almost forty years. We are delighted that the Aga Khan Development Network will acquire this property for their development."
On behalf the Aga Khan Development Network, Firoz Rasul, the President of the Aga Khan Council for Canada, stated: "As owners of the adjacent land, the planned acquisition of the Bata property provides us with a great deal of flexibility to establish a major Centre. Toronto not only is home to the largest segment of Ismailis in Canada, but is also a vibrant city, and this site enjoys a significant presence within it. While we are at the very early stages of planning, we hope that the development will add to the already rich background of Toronto and Canada."
Aga Khan Development Network (AKDN) is a group of private, non- denominational development agencies and institutions that are engaged in areas of social development, economic development and culture. AKDN agencies include, among others, Aga Khan Foundation, Aga Khan University, Aga Khan Trust for Culture, Aga Khan Education Services, Aga Khan Health Services and various other agencies. Established by the Ismaili Imamat (office of spiritual leadership) and working in over 20 countries, the Network's underlying impulse is the ethic of compassion for the vulnerable in society, and its agencies and institutions work for the common good of all citizens, regardless of origin, gender or religion.
For further information:
Mr. Graeme Spicer, Bata Limited, Telephone: (416) 446-2246;
Mr. Nizar Sultan, Aga Khan Council for Canada, Telephone: 416 467 7261 ext 24