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Listed Australian leisure and entertainment group Ardent Leisure has sold its US-based Main Event business to Dave & Buster’s Entertainment for approximately $1.1 billion.
Firm: Gilbert + Tobin (Ardent Leisure Group)
Completion of the transaction remains subject to customary closing conditions, the firm said in a statement, including US antitrust approval and Ardent shareholder approval.
Area: Corporate advisory
Value: $1.1 billion
Key players: The G+T team was led by partner Adam D’Andreti, who was supported by senior lawyer Sean Meehan and graduate lawyer Nick Maunsell.
Deal significance: Speaking about the transaction, Mr D’Andreti said: “Ardent Leisure is a long-standing client of G+T and we are privileged to once again assist them on a significant corporate transaction.
“Given this involved the sale of a wholly US-based business (which happens to be Ardent’s main undertaking) to a US-listed purchaser, complex Australian and US legal and regulatory issues arose. We are proud to have assisted Ardent’s board in navigating these and obtaining the outcome they did.”
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Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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