By Phil Boeyen, ShareChat Business News Editor
Tuesday 11th December 2001
|Text too small?|
The cinema operator says it has entered into a conditional sale and purchase agreement with another shareholder, Chrysalis, for the sale of its one-third interest in South Pacific Pictures for a total sale price of GBP500,000 (NZ$1.725 million).
Force says it has received a deposit of GBP50,000 but notes that the deal is conditional on Chrysalis reaching a shareholder agreement with the other partner in South Pacific Pictures, Endeavour Entertainment.
Force has already sold a number of other non-core assets such as properties and is using the proceeds to repay debt. Casino operator, Sky City (NZSE: SKC), is company's major shareholder.
No comments yet
SkyCity's Queenstown growth ambitions face test with convention centre decision tomorrow
SkyCity buys TVNZ land for $10.6 mln, broadcaster to put cash into upgrading main building
SkyCity shares fall as results show struggle to squeeze growth out of Auckland
SkyCity FY profit falls 8 percent on flat Auckland result, one-off 2012 benefits
FMA recorded Allen's role in SkyCity talks as potential conflict of interest
South Australia approves ‘game changing’ SkyCity casino licence, allowing A$300M investment
Government roped in FMA chair Simon Allen to help close SkyCity deal, papers show
SkyCity cleared to buy Queenstown's Wharf Casino
NZ govt, SkyCity take another 5 days on $402M convention deal
NZ government, SkyCity extend deadline for deal on $402M convention centre