China’s Second-Richest Man Doubles Money in AMC Theaters Bet
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Wang Jianlin, China’s second-richest man, has seen the value of his controlling stake in AMC Entertainment Holdings Inc. more than double in 18 months, delivering a $900 million gain.
Wang, whose Dalian Wanda Group Co. operates the largest theater circuit in China, bought the No. 2 U.S. chain in August 2012 for $2.6 billion, including debt. He invested about $800 million, according to Gerry Lopez, chief executive officer of the Leawood, Kansas-based chain. Wanda’s 80 percent stake is now worth $1.7 billion at the current price of $22.53.