Village Roadshow still in discussions re 50% sale of Gold Village

Company News

by Jessica Amir

Village Roadshow (ASX:VRL) says the potential sale of its 50 per cent stake in its Singapore cinema exhibition business to Gold Village has not yet been completed.

The leading entertainment business previously announced to the market it was planning to sell its stake to mm2 Asia (SGX:1B0). 

It comes as Village Roadshow says the steps in the shareholder agreement have not been completed, while the conditions in the sale agreement have not yet been fulfilled.

The parties say they are however in positive discussions with the transition.

Shares in Village Roadshow (ASX:VRL) are trading 1.55 per cent lower to $3.80.
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.