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EVT LIMITED — Capital/Financing Update 2010
Oct 21, 2010
64888_rns_2010-10-21_5e4c5ca4-f4bd-41c6-8414-83dc89dbacf0.pdf
Capital/Financing Update
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22 October 2010
ASX ANNOUNCEMENT
SALE OF INTEREST IN MAF GREATER UNION LLC
The listed entertainment, hospitality and leisure operator Amalgamated Holdings Limited (“AHD”) today announced that it has signed an agreement with the Majid Al Futtaim Group for the sale of AHD’s 49% share in MAF Greater Union LLC (“MAF Greater Union”).
The consideration for the sale is AED283 million (A$78.7 million). The sale represents a book profit on the sale of the equity accounted investment of A$60.6 million. The sale is expected to complete on 25 October 2010.
MAF Greater Union has been a joint venture between AHD and the Majid Al Futtaim Group since 1997. MAF Greater Union operates the Cinestar cinema circuit based in the United Arab Emirates and consists of 5 cinema sites and a total of 50 screens. The MAF Greater Union circuit had been managed by AHD.
For further information telephone 02 9373 6600:
Mr David Seargeant Managing Director Mr Greg Dean Company Secretary
Amalgamated Holdings Limited A B N 5 1 0 0 0 0 0 5 1 0 3 49 Market Street, Sydney NSW 2000