Dalian Wanda to Purchase Movie Theater Chain
The Dalian Wanda Group of China is now discussing the acquisition of a Europe based chain of movie theaters. The move by the privately held company was first reported by the Wall Street Journal last Sunday.
The group has shown keen interest in the purchase of Odeon & UCI Cinema Holdings as well as Vue Entertainment, both UK based movie entertainment chains. This was confirmed by sources knowledgeable about the transaction but spoke on the condition of anonymity. Wanda is also into real estate in China as well as other business interests.
A spokesman for Wanda confirmed the talks of purchasing a European movie theater chain but did not provide any further information or elaboration.
The Wanda Group became the world's largest movie theater operator in 2012 when it purchased the US multiplex operator AMC Entertainment Inc for US$2.6 billion. Together with this acquisition though is the US$2.21 billion AMC debt which is a heavy burden in the long run.