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
As the year draws to a close, a new report has explored the key trends and areas of focus for financial advisers over the last 12 months.
Assured Support explores five tips to help financial advisers embed compliance into the heart of their business, with 2025 set to see further regulatory change.
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
