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Suva, Fiji
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BUSINESS NEWS

Village cinemas property boosts sale price

January 29, 2010 11:39:01 AM
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The sale of Australian-based SkyCity Entertainment Group’s cinema businesses in New Zealand and Fiji now include the sale of its Fiji operations.
 
SkyCity Entertainment Group, which is listed on the Australian Stock Exchange, announced earlier this month a settlement price of NZ$61.1 million (FJ$84.3m) to Australian-based buyer Amalgamated Holdings Ltd. 

However, last November a sale price of NZ$59 million (FJ$81.4m) was mentioned.

The difference has been attributed to the value of SkyCity’s Fiji properties, Village 4 Cinemas in Lautoka and Village 6 in Suva operated by Damodar Brothers. This according to SkyCity CEO Nigel Morrison.

Damodar Brothers refused to comment on the sale when approached by FijiLive.

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