Exchange Database
Wanda closes acquisition of US chains
China's leading private conglomerate Dalian Wanda Group Co. completed a high-profile acquisition of AMC Entertainment Holdings, Inc., valued at roughly 2.6 billion US dollars, in Los Angeles, California. With the completion of the deal between Wanda and AMC, the second largest cinema owner in the United States, Wanda will be added with 338 multiplex theaters and 4,865 screen, including 2, 171 3-D screens and 124 IMAX screens to its assets, becoming the world's largest cinema owner. The Beijing-based Wanda, which originated from Dalian, a coastal city in northeast China's Liaoning Province, controls 94 theaters and 805 screens in China. It also operates hotels, department stores, tourism and other businesses.
Outcomes:
After the acquisition, Wanda will operate AMC as a wholly-owned subsidiary and invest up to an additional 500 million US dollars to support its strategic and operating initiatives. Under the agreement, AMC, based in Kansas City, Missouri, will continue to control film programming as well as to keep its headquarters in the present location. Its 17,000-strong associates will continue to operate theaters in 32 states across the United States.
Government?:
No
Type of Exchange:
business
media
Partners:
Dalian Wanda Group Co.
AMC Entertainment Holdings Inc.
Sponsor(s):
Dalian Wanda Group Co.
Participants (Types):
business executives
Exchange Date:
Tuesday, September 4, 2012
Continuing:
No
Image:
Location:
Los Angeles, CA
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