is poised to accept a takeover bid from finance company BGH. It also said that it has raised an additional $50.4 million near-term financial lifeline.milestones and points to an implied enterprise valuation of up to $545 million .
The Australian Stock Exchange-listed group was last year shaken by disagreements among its family and senior management owners, and received takeover offers in December and January. One of the reasons it has taken such a long time to complete the deal is the crushing impact of the coronavirus on VRL’s businesses.
are open to the public for a period of 5 consecutive days before the deal close date; a further increase if 75% of its cinemas are open for five days; and a final kicker if the inter-state borders between Queensland, Victoria and New South Wales have been reopened by the second half of October. The short-term funding injection was reported to have come from a combination of existing lenders and the Queensland Treasury Corporation. Most of it needs to be repaid within 12 months.
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