Movie theater chain owner AMC Entertainment is in talks with the
owner of one of China's largest movie theater owners for an
outright sale or a significant stake, the New York Times reported
Monday on its website, citing people briefed on those
discussions.
Talks between AMC and the Chinese company, the Wanda Group,
began more than a year ago but became more serious in recent weeks,
the newspaper reported. A deal between the two companies likely
would value AMC, owner of the second-largest movie chain in North
America, at around $1.5 billion. AMC since 2004 has been owned by
an investment group which includes the Apollo Investment Fund PLC
(APOL.CP), J.P. Morgan Partners, Bain Capital Investors and the
Carlyle Group L.P. (CG).
Representatives of AMC didn't respond to requests for comment
from the Times and a spokesman for Apollo declined comment. A Wanda
representative was not immediately available, the Times said.
Full story at:
www.nytimes.com/2012/05/08/business/media/amc-said-to-be-talking-sale-to-wanda-group-of-china.html?ref=business#
-Dow Jones Newswires; 212-416-2900