Magazine article Screen International

China's Wanda Group in Buyout Talks with AMC

Magazine article Screen International

China's Wanda Group in Buyout Talks with AMC

Article excerpt

China's Wanda Group is in talks with AMC Entertainment to buy part or all of the US exhibitor's shares, according to sources close to the Chinese company.

The sources told Screendaily that negotiations started several years ago but intensified at the end of last year. Wanda, a Dalian-based real estate group, owns the Wanda Cinema Line which has risen in the past three years to become China's largest exhibition circuit.

Wanda's spokesmen said they were not informed about the talks or a possible deal and Wanda Cinema Line vice president Liu Ge declined to comment when questioned by Chinese media.

However, Wanda Group chairman Wang Jianlin hinted at the deal in a speech he made at Beijing's Tsinghua University in April. Wang told his audience that Wanda will have a major international merger next month "that will surprise the world". He added that there may be another big international transaction in the first quarter of 2013. …

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