EVENT Hospitality and Entertainment has filed a formal Request for Arbitration in Europe, in relation to the sale of the group’s Cinestar cinema operation in Germany.
EVT, which alongside its Event Cinema business operates QT Hotels & Resorts, Rydges, Atura and the Thredbo ski resort in NSW, had hoped to sell Cinestar to a Dutch company called Vue.
Event Hospitality is alleging that Vue failed to take certain steps under a formal Sale & Purchase Agreement which were necessary to meet a condition imposed by the German Federal Cartel Office, which meant the proposed deal became a “prohibited transaction”.
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Source: traveldaily