MFS in $150m aquarium venture
Retail investors can now put their nest eggs into fish tanks with listed property fund manager and subsidiary of the MFS group, MFS Living and Leisure (MFSLL), entering into a $150 million acquisition contract with the world’s biggest aquarium owner and operator.
The acquisition of the Australian-based Oceanis Group will provide a huge boost to the Living and Leisure group’s current asset value of $12 million.
The group has also announced that it hopes to raise its total asset value to $250 million through the planned purchase of the MFS-owned Falls Creek and Mont Hotham ski resorts.
“The Oceanis Group is being purchased at an attractive yield while presenting opportunities for further growth through the development of current sites and building of new aquariums,” said MFSLL director Craig White.
“This purchase is consistent with MFS’ boutique funds management philosophy and our goal for growing MFSLL into a significant presence in the Australian and international leisure sector.”
The Oceanis Group owns and operates the Melbourne Aquarium and others in Mooloolaba, South Korea, Shanghai and Bangkok.
MFSLL’s main competitor in the Australian market is the Macquarie Bank owned Macquarie Leisure Group which has acquired Australia’s AMF bowling allies and which has just announced a $56 million investment in a new water theme park on the Gold Coast.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
