<article>Singapore-listed film and television content producer <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/mm2-asia/">mm2 Asia</a> has announced the acquisition of a 50 per cent stake in Golden Village Cinema from Village Cinemas Australia Pty Ltd for $133.5 million (S$184.25 million) .</article>

Singapore-listed film and television content producer <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/mm2-asia/">mm2 Asia</a> has announced the acquisition of a 50 per cent stake in Golden Village Cinema from Village Cinemas Australia Pty Ltd for $133.5 million (S$184.25 million) .
In a stock exchange filing on Tuesday, mm2 said it has signed the conditional sale agreement to purchase Village Cinemas&#8217; entire 50 per cent stake in Dartina Development Limited, a Hong Kong-based company which holds the Golden Village Cinema business in Singapore.
&#8220;The proposed acquisition is a strategic investment by the group in line with the group&#8217;s overarching strategy to further strengthen its presence in the downstream value chain of film distribution,&#8221; said mm2 in its statement.
The firm has been in negotiations with Village Cinemas, a subsidiary of Australian exchange listed Village Roadshow, for the acquisition since last month.
mm2 added that the acquisition will complement its current cinema operations in Malaysia and provide a source of recurring income to the group.
Last month mm2 <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/sg-dealbook-61-57699/">acquired 13 cinemas</a> from Malaysia&#8217;s Lotus Fivestar Cinemas and also entered into a two-year agreement with Lotus to manage them.
Last month, it also struck a deal to co-produce five films with a Time Warner company over the next three years. It entered into an agreement with Turner Asia Pacific that manages pay-TV and free-TV channels, and creates and distributes brands such as CNN and HBO in South Asia.
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Singapore-listed mm2 Asia has announced the acquisition of a 50 per cent stake in Golden Village Cinema for $133.5 million.

Singapore: mm2 Asia buys 50% in Golden Village Cinema for $133.5m

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Singapore: mm2 Asia buys 50% in Golden Village Cinema for $133.5m

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