# Merlin Entertainments Plc Sale of Australian ski resorts, Hotham and Falls Creek

- Link: https://www.directorstalkinterviews.com/merlin-entertainments-sale-of-australian-ski-resorts-hotham-and-falls-creek/412767758
- Published: 2019-02-22T07:13:00+00:00
- Author: Charlotte Edwards

**Merlin Entertainments Plc** (LON:MERL), a global leader in location based entertainment,
announced the sale of its Australian ski resorts, Hotham and Falls Creek, to Vail
Resorts, Inc.

The purchase price is A$174 million (£95 million1), subject to certain adjustments
related to the timing of closing, which represents a multiple of 8.8x 2018 EBITDA.
The deal is subject to regulatory approval and is expected to close by June 2019.
Net proceeds will be used for general corporate purposes.

> **Nick Varney, Chief Executive Officer of Merlin Entertainments, said:**
> “We are pleased to reach this agreement with Vail Resorts, which will allow us
> to focus on our core business of location based entertainment, specifically theme
> parks and Midway attractions. It will see the business transfer to a company with
> a strong track record in ski resort development, and we wish Vail Resorts and 
> the teams in Australia well.”

Merlin will report 2018 Preliminary Results on 28 February.

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