Malaysia: Sim Leisure Group Strives for Acquisition of KidZania Kuala Lumpur

The board of directors of Malaysia-based Sim Leisure Group Ltd. (theming specialist for leisure and water parks) just announced that the company’s wholly-owned subsidiary, Sim Leisure Escape, had on 4 November executed a sale of shares agreement with the Malaysian Themed Attractions and Resorts operating group and Boustead Curve (a subsidiary of the Boustead Holdings Berhad conglomerate specialized in the real estate business) for the acquisition by Sim Leisure of all the issued and paid-up ordinary shares in the capital of Rakan Riang.

Rakan Riang is an authorized lincensee of the Mexican kids‘ leisure and edutainment brand KidZania and as such operator of KidZania in Kuala Lumpur, where the attraction opened its doors in 2012 for the first time. Through the take-over of Rakan Riang, KidZania Kuala Lumpur would become part of the attractions portfolio of Sim Leisure Escape. The value of the purchase deal totals at some 3.8 million Malaysian Ringgit (approx. 775,000 Euros) and is set to be completed shortly, subject to the fulfillment of contractually defined conditions. (eap)