In an ASX announcement made on 23 November 2020, Village Roadshow (ASX:VRL) said that it has agreed with BGH Capital to increase the cash consideration to $3.00 per VRL share, valuing the transaction at close to $586 million.
The VRL board shared that the BGH transaction provides the chance to all shareholders to realise an attractive cash price in uncertain times. The cash consideration for the scheme is now above the Independent Expert’s value range of $2.03 to $2.80 per VRL share.
Net debt for VRL as on 31 October 2020 was $311 million and on 30 June 2021 is expected to be approximately $370 million to $380 million.
Meanwhile, the VRL stock closed at $2.850 per share, up 16.326% with a market capitalisation of $478.48 million on 23 November 2020.