December 19, 2017 / 10:32 PM / a year ago

Australia's Ardent Leisure sells bowling, entertainment division

Dec 20 (Reuters) - Ardent Leisure said on Wednesday it would sell its bowling and entertainment arm to a holding company partially owned by Quadrant Private Equity for A$160 million on a debt and cash free basis.

“Following an unsolicited offer from The Entertainment and Education Group (the Quadrant holding firm), the decision to divest B&E reflects the attractive price offered and our focus on investing our capital in areas where we can earn the most attractive returns,” Ardent Chairman Gary Weiss said. (Reporting by Rushil Dutta in Bengaluru)

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