mm2 Asia in talks to buy stake in movie theatre operator Golden Village

Film and TV content producer mm2 Asia is currently in negotiations to buy out Village Cinemas Australia's stake in Dartina Development which owns the Golden Village Cinema business in Singapore.
Film and TV content producer mm2 Asia is currently in negotiations to buy out Village Cinemas Australia's stake in Dartina Development which owns the Golden Village Cinema business in Singapore.ST PHOTO: ONG WEE JIN

SINGAPORE - Catalist-listed film and TV content producer mm2 Asia is in discussions to purchase Village Cinemas Australia's stake in Dartina Development, a company incorporated in Hong Kong which holds the Golden Village Cinema business in Singapore.

The discussions and negotiations are at a preliminary stage and are ongoing, mm2 Asia said in an exchange filing on Friday (May 19).

Village Cinemas is a wholly-owned unit of Village Roadshow, a company listed on the Australian Securities Exchange.

Movie theatre operator Golden Village runs 11 multiplexes housing 92 screens in Singapore. It is a joint venture between Hong Kong-based film production, exhibition and distribution company Orange Sky Golden Harvest and Village Roadshow.

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mm2 Asia said in its filing that there is no assurance that the proposed purchase will materialise and the company will make appropriate announcements in the event of material developments.