Ardent Leisure, RedBird Sell Main Event to Dave & Buster’s

Ardent Leisure and RedBird in a binding agreement to sell Main Event to Dave & Buster’s for a cash consideration of $835m on a cash-free debt-free basis.

• If the transaction completes, Ardent Leisure will receive about $487m in cash proceeds, subject to purchase price adjustments
• Ardent Leisure will use the proceeds to repay its outstanding debt facility to Queensland Treasury Corporation and the deferred settlement payable to the ATO, pay transaction costs, fund the continued growth and investment in the Theme Parks business, and expects to return approximately A$430m (A$0.90/share) to Ardent Leisure shareholders
• Shareholders to vote on the Transaction ...