SINGAPORE (June 13): mm2 Asia has entered into an agreement to acquire Village Cinemas Australia’s entire stake in Dartina Development for $184.3 million.

Dartina Development holds a 50% stake in Dartina. Dartina is an investment holding company incorporated in Hong Kong which holds, through its Singapore subsidiaries, the Golden Village Cinema business in Singapore.

The consideration is 10.5 times the aggregate earnings of the Singapore subsidiaries before interest, taxes, depreciation and amortisation for the period ended 31 December 2016.

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