Bronfman, Devimco working together to buy Peel Basin land

Stephen Bronfman's investment company,Claridge, and development company Devimco are teaming upto acquire a plot of land at the Peel Basin.

Bronfman'sMontreal Group,investors trying to bring Major League Baseball back to the city, want to use part of the site for the construction of a new stadium.

"Yes, we have a deal. We are working together," Bronfman told La Presse Canadienne.

"There's movement, but there are things we cannot talk about."

Bronfman said Devimco would acquire the 950,000-square-foot stretch of federal land near downtown Montreal with Claridge as a financial partner.

He said Devimco president Serge Goulet is leading negotiations between the two partners and the Crown corporation that manages federal land, the Canada Lands Company.

Bronfman said he hopes to share more news about the project this summer. In the past, Bronfman has said he wants the stadium to be part of a mixed-use development.

Devimco built many of the condo buildings in the Griffintown, not far from the Peel Basin land.

The Expos joined the National League 50 years ago and moved to Washington, D.C.in 2004.