In a bid to raise funds, The Star Entertainment Group is divesting assets from The Star Sydney, including its event centre.
Foundation Theatres is set to buy the event centre, among other spaces, for AU$60m, subject to a number of customary conditions being met.
“The Star has worked closely with the team at Foundation Theatres since they acquired the sublease for the Sydney Lyric in 2011,” said CEO of The Star, Steve McCann. “We are pleased to partner with them as part of the continued evolution of our broad entertainment offerings at The Star Sydney.
“We continue to work on a number of other potential non-core asset transactions."
