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Sale of Singapore investment to help company grow
Movie distributor Village Roadshow has announced the sale of its stake in a number movie theatres in Singapore.
Melissa Coade
Firms: Thomson Geer (Village Roadshow); King & Wood Mallesons (Orange Sky Golden Harvest Entertainment Holdings)
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Deal: Village Roadshow has sold its stake in Singapore movie theatres to Orange Sky Golden Harvest Entertainment Holdings.
Value: $164 million approx
Area: M&A
Key players: Consultant Peter Nankivell from Thomson Geer led the team advising Village Roadshow. He was supported by partner Peta Thompson, senior associate Lisa Marcus and lawyer Matt Persico.
Deal significance: According to a statement released by Thomson Geer, Village Roadshow will use the proceeds of the sale to reduce its debt levels. Selling its stake in Singapore movie theatres will also allow the company to execute a number of growth strategies.
“Thomson Geer has acted for Village for many years and we are pleased to have been able to support them on this important strategic transaction,” consultant Peter Nankivell said.
