Village Roadshow, the Australian media giant that has distribution, exhibition, studio and theme parks wings, has received a takeover bid worth north of $500m.
The company released a statement saying that Pacific Equity Partners, a Sydney-based private equity firm, had made an offer of $2.68 (Aud$3.90) per ordinary share, equating to $523m (Aud$761.2m).
The equity outfit has also already agreed to purchase 19% of Village Roadshow Corporation, a private company that is Village Roadshow’s largest shareholder with a 34% stake.
The Village Roadshow board said it was now considering the proposal and seeking legal and financial advice, and that there was “no certainty an acceptable proposal will eventuate.” Any takeover would also need to clear a number of conditions including due diligence.
Run by exec trio Robert Kirby, John Kirby and Graham Burke, Village Roadshow is one of Australia’s biggest media outfits, encompassing a chain of cinemas, multiple theme parks,...
The company released a statement saying that Pacific Equity Partners, a Sydney-based private equity firm, had made an offer of $2.68 (Aud$3.90) per ordinary share, equating to $523m (Aud$761.2m).
The equity outfit has also already agreed to purchase 19% of Village Roadshow Corporation, a private company that is Village Roadshow’s largest shareholder with a 34% stake.
The Village Roadshow board said it was now considering the proposal and seeking legal and financial advice, and that there was “no certainty an acceptable proposal will eventuate.” Any takeover would also need to clear a number of conditions including due diligence.
Run by exec trio Robert Kirby, John Kirby and Graham Burke, Village Roadshow is one of Australia’s biggest media outfits, encompassing a chain of cinemas, multiple theme parks,...
- 12/19/2019
- by Tom Grater
- Deadline Film + TV
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