Goldman Sachs, Balmain to buy D'Albora Marinas for A$126 Million
December 11 2016 - 6:53PM
Dow Jones News
By Rebecca Thurlow
SYDNEY--Goldman Sachs Group Inc. (GS) has teamed up with
Sydney-based Balmain Corp to buy Australia's largest marina group
from Ardent Leisure Group (ASX.AU) for 126 million Australian
dollars (US$94 million).
Ardent said Monday a special purpose vehicle owned by Goldman
and Balmain will purchase d'Albora Marinas, which owns seven
marinas in Sydney, Melbourne and the popular holiday destination of
Nelson Bay.
The sale price is an 11% premium over current book value of
A$113.5 million, Ardent said.
Ardent announced in March it planned to sell the marinas to
focus capital on expanding its entertainment center business in the
U.S.
-Write to Rebecca Thurlow at rebecca.thurlow@wsj.com
(END) Dow Jones Newswires
December 11, 2016 18:38 ET (23:38 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Ardent Leisure (ASX:AAD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ardent Leisure (ASX:AAD)
Historical Stock Chart
From Apr 2023 to Apr 2024
