Deals
GIC to Invest $260 Million in Indonesian Movie Theater Chain
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GIC Pte, Singapore’s sovereign wealth fund, agreed to partner with an Indonesian cinema operator by investing 3.5 trillion rupiah ($260 million), to help expand the theater chain across the country.
PT Nusantara Sejahtera Raya, which operates the Cinema 21, Cinema XXI and The Premiere brands in Indonesia, has entered into a strategic partnership with GIC, the companies said in a joint statement on Monday. The company operates 157 cinemas across 36 cities in Indonesia, Nusantara Sejahtera Raya said in the statement.