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October 05, 1994|From Times Staff and Wire Reports

Mountasia Agrees to Buy Malibu Grand Prix: Mountasia Entertainment International Inc. has agreed to acquire Malibu Grand Prix Corp. of Canoga Park in a move that will double its size, according to Scott Demerau, Mountasia's chairman and chief executive. Atlanta-based Mountasia, which owns 17 theme parks, will pay about $20 million in cash and issued 250,000 shares of Mountasia stock (valued at $5 million) to buy its biggest competitor. The deal includes 21 theme parks in the United States, seven of them in California, and seven licensed facilities offshore. Malibu operates miniature golf courses, go-carts, grand prix race tracks and video arcades.

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