BGH Capital acquires theme park operator Village Roadshow
Australia based theme park group Village Roadshow will soon have a new owner
Private equity firm BGH Capital will buy it for an enterprise value of up to A$758 million.
The business includes the SeaWorld and Movie World parks and a chain of cinemas.
BGH Capital has been trying to tie up a deal for several months.
BGH offered two alternative bids with the higher offer payable if it reopens its theme parks and cinemas, and Queensland borders are opened for visitors from New South Wales and Victoria.
"The BGH transaction provides the opportunity for all VRL shareholders to realise an attractive cash price for all of their VRL shares, in a very uncertain operating environment," the company said in a statement.
Village Roadshow has just secured A$70 million in funding from existing lenders to see it through the Covid-19 shutdown.
BGH recently failed in a bid to buy Virgin Australia which went to Bain Capital.
by Ray Montgomery, Asia Pacific editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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