Village Roadshow, the company that operates Wet’n’Wild theme parks and Warner Bros Movie World in Australia, is teaming up with Chinese conglomerate Citic Group to create a US$500m fund management business to invest in Asian theme parks.
Village Roadshow said on Monday that both companies would spend $25m each over the next two to three years investing in theme parks, entertainment facilities and related real estate developments.
Potential developments have been identified in China, Malaysia and South Korea. The fund management company will be 51 per cent owned by Citic Trust — a subsidiary of Citic group — and 49 per cent owned by a subsidiary of Village Roadshow, it said.
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