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Spanish company acquires Wet’n’Wild Sydney
Spanish leisure park operator Parques Reunidos Servicios Centrales S.A. has acquired the entirety of Wet’n’Wild Sydney.
Jerome Doraisamy
Firm: Ashurst (Parques Reunidos Servicios Centrales S.A.); Thomson Geer (Village Roadshow Limited)
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Deal: Ashurst advised Parques Reunidos on its $40 million acquisition of all shares in Wet’n’Wild Sydney from Village Roadshow Limited.
Value: $40 million
Area: Corporate
Key players: The Ashurst team was led by partner Anton Harris, who was assisted by partners Anita Cade, Jennie Mansfield, Rebecca Dixon, Sanjay Wavde and Barbara Phair, senior associates Matt Spark, Maria Sun and Elke Bremner, counsel Kate Pickthall, lawyers Callum Newson-Brown, Katie O’Connell, Carolyn Harding-Smith, Luke Salem and Tony Zhou, and graduate Rhea Nair.
Thomson Geer consultant Peter Nankivell led the advice for Village Roadshow, and he was assisted by partner Peta Thompson and lawyer Matt Persico.
Deal significance: Madrid-based Parques Reunidos operates 60 theme parks, water parks, zoos and indoor entertainment centres globally, with the acquisition of Wet’n’Wild Sydney marking the company’s entry into the Australian entertainment market.
Village Roadshow has stated it will use the proceeds of the sale to reduce debt, following two profit warnings it issued last year.
