Imagicaaworld Entertainment has entered into a Share Purchase agreement to transfer 100% stake in its Wholly Owned Subsidiary -- Walkwater Properties (WPPL) to JBCG Advisory Services (nominee of Shaan Agro and Realty India). The consideration received from such sale/ disposal is approximate Enterprise value of Rs 106 crore, subject to customary adjustments at closing. The said sale/disposal is pursuant to a resolution plan duly approved by secured lenders and shareholders of Imagicaaworld Entertainment.
Imagicaaworld Entertainment is engaged in the business of development and operations of theme-based entertainment destinations in India, including theme parks, water parks and associated activities including retail merchandising and food and beverages.
