Sunday , July 12 2020
Breaking News
Home / Business / Village Roadshow receives rival offer from private equity group BGH

Village Roadshow receives rival offer from private equity group BGH

A bidding war for Village Roadshow is threatening to erupt with buyout firm BGH Capital attempting to outmuscle rival Pacific Equity Partners with a $770 million offer for the beleaguered entertainment company.

BGH Capital, led by well known former investment bankers Robin Bishop, Ben Gray and Simon Harle, proposed on Friday to buy Village shares for $4, valuing the business at more than $770 million. The proposal comes a month after the ASX-listed company fielded a takeover offer from PEP worth $3.90 per share.

Rival bidders are looking to snap up the beleaguered cinema operator.

Rival bidders are looking to snap up the beleaguered cinema operator.Credit:Scott McNaughton

“BGH has indicated it is willing to offer all cash consideration or a combination of cash and unlisted shares (subject to caps and scale back provisions) in a newly incorporated holding company,” Village said in a statement to the Australian Securities Exchange.

Village Roadshow, which traces its roots to a drive in movie theatre established in 1954, owns cinemas around the country and theme parks including Sea World and Warner Bros Movie World on the Gold Coast. It also has a film distribution business.

About admin

Check Also

Call for real climate action not ‘greenwashing’ from big polluters

As investors become increasingly attuned to the financial – and reputational – risks of inaction, …