Acer to pay $38.5 mil for 35%
HONG KONG — Village Roadshow has agreed to sell its 35% stake in distributor Golden Harvest Entertainment to Taiwanese computer maker Acer, according to local news reports.
Acer will pay about $38.5 million for the stake, according to unnamed sources in the South China Morning Post.
Last month, Australia-based Village Roadshow looked set to sell its interests to Lai Sun Hotels. But it is believed that Golden Harvest chairman Raymond Chow, who controls about 30% of the company, scuttled that deal because he wanted a high-tech partner.