Chinese Billionaire Exits AMC, Reversing Global Expansion
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Dalian Wanda Group Co. has almost completely exited its investment in AMC Entertainment Holdings Inc., marking the latest retreat from overseas markets for the once-rapacious conglomerate founded by Chinese billionaire Wang Jianlin.
Wanda, which bought the theater chain in 2012 for $2.6 billion, cut its stake to just 0.002%, according to a filing Friday. That compares with 6.8% in an April 9 disclosure and more than a third of the shares in October.