It announced  yesterday a $20 million takeover deal for a Sydney brothel in a backdoor listing.
The company is set to buy the Stiletto brothel in the inner-west suburb of Camperdown, where clients can experience a “unique mixture of style, sex and theatre” for $200 a half-hour.
Rooms range from the Betty Boob, which is furnished with a large round bed and mirrors, to the Roman Orgy, which has a plunge pool, and the Royal Suite, which features a pole-dancing stage and pool table.

However, the company may be forced to restructure its operations to distance the listed entity from the business of selling sex, as Melbourne brothel The Daily Planet did when it listed in 2003.
With brothel owners required to be licensed by state authorities, shareholders, being unlicensed, can own part of an investment vehicle or property trust that earns income from the brothel, but not the business itself.

See the full article from “The Australian”



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