Village Roadshow (ASX:VRL) has finally entered into a deal with BGH Capital which will see the private equity firm acquire the theme park and cinema operator at a price of up to $2.45 per share.
Covid weighed on the protracted negotiations, forcing the parties to extend exclusive discussions four times.
Shareholders have been given two potential offers to consider.
Structure A offers a base price of $2.20 per share, and structure B offers a base price of $2.10.
Further uplifts in the price are available provided the theme parks and cinemas are reopened and Queensland borders reopen to people from NSW and Victoria before the proxy date.
The Independent Committee of the Village Roadshow Board unanimously recommends the transaction.
Shares in Village Roadshow (ASX:VRL) are trading 4.29 per cent higher at $2.19.