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Quebec Federation of Labour to help fund Molson family

The Canadian Press

6/21/2009 3:09:04 PM

MONTREAL -- The Solidarity Fund of the Quebec Federation of Labour has confirmed its financial participation in the Molson family's purchase of the Montreal Canadiens.

Fund president Michel Arsenault said Sunday that shareholders will benefit from a partnership with such a high-quality franchise.

No further details on the transaction have been unveiled.

The Federation of Labour had previously announced its intention to lend a hand to any Quebec-based group looking to purchase the Habs.

The Molson family released a statement Saturday saying they had an agreement in principal to purchase the storied NHL club.