Wang expands movie empire with Carmike buy
New York
AMC Entertainment Holdings Inc, controlled by China's richest man, has agreed to buy Carmike Cinemas Inc in a US$1.1 billion all-cash deal that would create the world's largest cinema chain.
AMC, majority-owned by billionaire Wang Jianlin's Dalian Wanda Group Co, will pay US$30 a share for Carmike, a 19 per cent premium over its closing stock price on Thursday, according to a statement from the companies.
The agreement combines the second and fourth-biggest US movie theatre chains and vaults the resulting entity past Regal Entertainment Group.
The deal, the latest sign of China's growing influence i…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore Q1 industrial rents rise further 1.7%, as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Lucrum Capital looks to sell Killiney hotel site for S$195 million
US 30-year mortgage rate rises to five-month high of 7.24%
Money laundering accused Su Baolin’s Sentosa property goes unsold at auction