By Rebecca Thurlow 
 

SYDNEY--Goldman Sachs Group Inc. (GS) has teamed up with Sydney-based Balmain Corp to buy Australia's largest marina group from Ardent Leisure Group (ASX.AU) for 126 million Australian dollars (US$94 million).

Ardent said Monday a special purpose vehicle owned by Goldman and Balmain will purchase d'Albora Marinas, which owns seven marinas in Sydney, Melbourne and the popular holiday destination of Nelson Bay.

The sale price is an 11% premium over current book value of A$113.5 million, Ardent said.

Ardent announced in March it planned to sell the marinas to focus capital on expanding its entertainment center business in the U.S.

 

-Write to Rebecca Thurlow at rebecca.thurlow@wsj.com

 

(END) Dow Jones Newswires

December 11, 2016 18:38 ET (23:38 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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