Village Roadshow
Village Roadshow

New takeover offer for Village Roadshow

THEME parks operator Village Roadshow Ltd has received a second takeover offer, with private equity firm BGH Capital bettering an offer by a rival firm late last year.

In an ASX announcement this morning, Village said BGH's indicative price of $4 cash per share represents a premium of 25 per cent to the company's closing share price of $3.20 on December 18, the last trading day before the announcement of the $3.90 proposal from Pacific Equity Partners.

It’s the second offer in just over a month. Photo: Annette Dew
It’s the second offer in just over a month. Photo: Annette Dew


"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," the statement said.

"The BGH Proposal is subject to a number of conditions, including completion of due diligence, arrangement of financing, FIRB approval and recommendation by the VRL Board. The proposal is also conditional on VRL and BGH establishing a set of protocols in relation to information sharing and confidentiality."

The deal values the company at more than $700 million.
The deal values the company at more than $700 million.


The PEP deal values the company at $761.2 million, not including debt, while the new offer is worth $780.7 million.

An independent Committee of the Village Board of Directors is reviewing both offers.

Village Roadshow has appointed UBS and Stratford Advisory Group as financial advisers and MinterEllison as legal adviser.



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