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Ardent Leisure sells its marinas business

AAP logoAAP 12/12/2016

The owner of the Dreamworld theme park, Ardent Leisure, has sold its marinas business for $126 million to an investment group owned by Goldman Sachs and Sydney-based Blamain Corporation.

Ardent says the sale price for its d'Albora Marinas business - comprising seven marinas - represents an 11 per cent premium to the current book value of $113.5 million.

An investment group owned by Sydney-based Balmain Corporation and investment bank Goldman Sachs has bought the business, with the transaction expected to be completed before June 30 next year.

Ardent announced in March that it had put d'Albora Marinas up for sale and was considering selling its gyms as part of a plan to be a leading global entertainment company focused on its theme parks and family entertainment venues.

In August, the group sold its Goodlife Health Clubs and exercise equipment business Hypoxi for $260 million deal to private equity firm Quadrant Private.

The company reopened Dreamworld on the Gold Coast at the weekend for the first time since four people died on a ride on October 25.

Shares in Ardent Leisure were down 0.5 cents, or 0.22 per cent, at $2.285 at 1545 AEDT.

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