Village Roadshow continues asset stripping with AU$165mn Golden Village sale

By Addie Thomes

Village Roadshow has sold its 50% share in Singaporean cinema chain Golden Village for a fee of around AU$165mn.

Hong Kong’s Orange Sky Golden Harvest, already owner of the other half of the company, has completed its 100% takeover as a result of the transaction.

It is thought that Village Roadshow will net around AU$150mn in profit from the sale, helping it to pay down some of its debts.



Last month, the company revealed it is looking to raise another $100mn from the sale of its theme park land. The company runs five major attractions across 154 hectares: Movie World, Wet’n’Wild, Australian Outback Spectacular, Paradise Country and Village Roadshow Studios, and would look to effectively lease the land back in order to continue operating the sites.

Revenues struggled last year after a tragedy at rival’s theme park, which saw four people die in a collision between two rafts on a rapids ride at Dreamworld in Queensland, operated by Ardent Leisure.


Featured Articles

People Moves: Pine Labs, Deutsche Bank, McKinsey, Fortinet

Pine Labs names former Amazon exec as chief people officer, Fortinet hires government affairs leader for APAC, McKinsey India poaches Accenture HR exec

Dialight envisions a world of industrial safety with LEDs

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Must-see speakers at TECH LIVE LONDON 2022 event

Technology leaders from IBM, Oracle, Vodafone, JP Morgan, Accenture and the US Space Force are among the 80-plus speakers at upcoming TECH LIVE LONDON

Vodafone Business cyber leader Kawalec speaks at Cyber LIVE

Leadership & Strategy

Twitter timeline – how Musk pulled off a hostile takeover

Leadership & Strategy

Top 10 Asia restaurants, from Tokyo’s Den to Bangkok’s Sorn

Leadership & Strategy