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Wanda’s AMC Purchase Approved

Jul 26,2012

 

The Wanda Group Thursday announced that its acquisition of US cinema chain AMC has been approved by all relevant authorities in China and the United States. The merger transaction will be completed by the end of August.

The merger has been approved by China’s National Development and Reform Commission, the Ministry of Commerce and the State Administration of Foreign Exchange.

Meanwhile, the US Federal Trade Commission and the Committee on Foreign Investment in the United States have both approved the transaction. It means AMC has become a member of the Wanda Group.

Wanda’s purchase of AMC is the largest acquisition made by China’s private enterprises in the United States and the largest overseas acquisition for China’s cultural industry.

After the acquisition, the Wanda Group owns AMC (ranking No.2 in the world) and Wanda Cinema Line (ranking No.1 in Asia), becoming the world’s largest cinema operator.

(Editor: Guan Xiaofeng)

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