Force sells film holding

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.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

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