Pursuits
AMC Buys Odeon in Biggest U.K. Takeover Since EU Vote
- Purchase of cinema chain gives AMC a foothold in Europe
- Cash and stock transaction valued at about $1.2 billion
AMC Entertainment to Buy Odeon for $1.2B
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AMC Entertainment Holdings Inc., the U.S. theater chain controlled by Asia’s second-richest man, agreed to buy Odeon & UCI Cinemas Group for 921 million pounds ($1.2 billion) in cash and stock to expand in Europe.
AMC will pay 500 million pounds for the equity, 75 percent in cash and 25 percent in stock, and assume net debt -- at 407 million pounds as of March 31 -- the company said in a statement Tuesday.