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mm2 Asia in discussion to buy a stake in Golden Village Cinema in Singapore
MM2 Asia Ltd is in discussion to buy Village Cinemas Australia's entire stake in the holding company of Golden Village Cinema business in Singapore, the group said in a Singapore Exchange (SGX) filing on Friday.
The discussions and negotiations are at a preliminary stage, and are ongoing.
Village Cinemas is a wholly owned subsidiary of Village Roadshow Limited, a company listed on the Australian Securities Exchange.
It owns a stake in Dartina Development Limited, a company incorporated in Hong Kong, which holds the Golden Village Cinema business in Singapore.
Any purchase will be subject to the terms being agreed by both parties, the applicable consents being obtained and the fulfilment of relevant conditions precedent.