Village Roadshow has entered into a deal to buy Auckland's Kelly Tarlton's Underwater World from Tourism Holdings for $13 million.
THL said it would use the proceeds to reduce debt, as the company seeks to refocus on its core businesses and "opportunities for growth".
The Kelly Tarlton's aquarium
and "Antarctic encounter" will join Village's portfolio of tourism attractions, including the Sydney Aquarium, Oceanworld Manly and Sea World Gold Coast.
"Kelly Tarlton's is a sound business that will fit with the similar operations in the Village Roadshow group," THL chief executive officer Trevor Hall said.
"We are confident that this iconic Auckland attraction will continue to be a prominent tourist destination."
The sale is subject to Overseas Investment Office approval and certain business conditions. Based on OIO timelines, the sale is likely to be settled at the end of the year.
All staff and management at Kelly Tarlton's will be offered positions with Village Roadshow.
- NZPA
