Imagicaa World Entertainment Limited has entered into a Business Transfer Agreement with Rajgreen Amusement Park Private Ltd to acquire their water park business in the state of Gujarat on a slump sale basis.
The Company shall also execute a sub-lease deed with RAPPL for sub-leasing the water park land in favour of the Company, the draft of which is pending concurrence from Government Authorities.
In order to manage the business in the interim to the closure of the BTA, the Company is also proposing to enter into an arrangement for Operation and Maintenance (“O&M”) of the said facility.