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 presents the Market Outlook and company news. She joined FNN in January 2017. She has been in broadcast journalism for over five years. She has worked as a journalist with Sky News Business, ABC 1 and ABC24. She has also worked in regional Australia for Prime 7 and WIN News. She is also a qualified financial planner and a Masters of Applied Finance student.