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18-May2018

Adlabs Entertainment to sell entire stake held in Walkwater Properties

Adlabs Entertainment has received an approval to sell or transfer 100% investments/ shareholdings of the company in Walkwater Properties, a wholly owned subsidiary of the company and Surplus Land of approximately 65 acres to Shaan Agro and Realty India at a total consideration of Rs 150 crore in cash subject to necessary approvals, consents, permissions and/or sanctions from the appropriate authorities and approvals of the Members of the company. Thus there is no change in the consideration amount for the hitherto approved sale transaction. The board of directors the company at their meeting held on May 17, 2018, approved the same.

Adlabs 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 (F&B).


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