Mallesons Stephen Jaques has acted for Merlin Entertainments Group on its agreement with Village Roadshow Limited (Village) to buy Village’s aquarium and attractions businesses.
The businesses subject to the agreement include Sydney Aquarium, Sydney Wildlife World, Sydney Tower Observation Deck and Sky Walk, and Hamilton Island Wildlife Park.
Mallesons partner Ros Anderson, senior associate Intan Eow and solicitor Leisha Marasinghe led the deal alongside an acquisition finance team composed of partner Yuen-Yee Cho and solicitors Angel Quek and Charles Deutscher.
The net cash proceeds to Village from the sale, after repayment of debt within its Sydney Attractions Group, are expected to be approximately A$115 million.
The sale is subject to a number of regulatory approvals and third party consents and is expected to conclude early in the first quarter of 2011.
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