SKC awaits Commission approval for Force

In the middle of last month the casino company announced it wanted to buy all of the cinema operator at 25 cents per share.

However the offer is subject to acquiring shares owned by Francis Securities on or after March 8th, and OIC approval.

Sky City says any stand in the market for Force share won't take place until receipt of OIC approval, and it will then provide the market with further details regarding the timing and procedure for any stand in the market.

An appraisal report by Grant Samuel has valued Force at between 22 cents and 32 cents per share.

Sky City says buying the cinema operator is a logical extension of its gaming and entertainment business. Earlier this week it was revealed the company wants to build a $37 million convention centres across the road from its Auckland casino, and expand gaming areas in the present building.

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