ASX-listed Skydive the Beach to buy Skydive Queenstown for $17 million

Mon, 12 Oct 2015

By Suze Metherell Oct. 12 (BusinessDesk) - Skydive the Beach, the ASX-listed adventure tourism operator, has entered into an agreement to buy Skydive Queenstown, New Zealand's first and largest tandem skydiving company, for $17 million. The Wollongong-based business is tapping its shareholders for A$19.6 million via a renounceable rights offer, to fund its purchase of Queenstown's sole skydive operator, which trades under the name Nzone, it said in a statement to the ASX. The purchase price represents five times enterprise value of Skydi...

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