Related News
Wanda Group agrees to buy AMC theater chain for US$2.6b
By Hu Xiaocen |
May 21, 2012, Monday
|
Online Edition
Online Edition
DALIAN Wanda Group agreed to buy AMC Entertainment Holdings, the second biggest theater chain in the US, for US$2.6 billion including debt, a substantial step in the conglomerate's plan to go international, Wanda said in a statement this morning.
Wanda Group said it will inject up to US$500 million in working capital into AMC. The whole deal will cost the private firm US$3.1 billion.
The two parties started negotiations in early 2010. The National Development and Reform Commission, China's top planning agency for the nation's economy, approved the deal in March. The transaction still requires approval by the US government.
Wanda Group, based in Beijing, is a conglomerate that operates commercial properties, hotels, tourist attractions and chain department stores. It is China's biggest cinema operator with 86 theaters featuring 730 screens.
If approved, the deal will make Wanda Group the world's biggest cinema chain as AMC has 346 theaters with more than 5,000 screens in the US.
Wanda Group said it will inject up to US$500 million in working capital into AMC. The whole deal will cost the private firm US$3.1 billion.
The two parties started negotiations in early 2010. The National Development and Reform Commission, China's top planning agency for the nation's economy, approved the deal in March. The transaction still requires approval by the US government.
Wanda Group, based in Beijing, is a conglomerate that operates commercial properties, hotels, tourist attractions and chain department stores. It is China's biggest cinema operator with 86 theaters featuring 730 screens.
If approved, the deal will make Wanda Group the world's biggest cinema chain as AMC has 346 theaters with more than 5,000 screens in the US.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
