Newspaper article St Louis Post-Dispatch (MO)

AMC Tries to Distance Itself from Parent Wanda's Troubles

Newspaper article St Louis Post-Dispatch (MO)

AMC Tries to Distance Itself from Parent Wanda's Troubles

Article excerpt

BEIJING * U.S. cinema chain AMC has tried to reassure financial markets it is unaffected by its Chinese parent's debts, saying the American unit has never relied on Wanda Group for financing.

Shares in AMC Entertainment Holdings Inc. have fallen 9.4 percent this week after reports that Chinese regulators told banks Wanda's recent foreign transactions conflicted with restrictions on capital movement. Wanda bought a majority stake in AMC in 2012 for $2.6 billion.

AMC said Tuesday that its three most recent acquisitions were financed by U.S. banks and that it had never received loans from Chinese banks.

The company said Wanda, which also owns Hollywood studio Legendary Entertainment, has three seats on AMC's nine-member board but no role in daily management.

"AMC is an American company run from its Leawood, Kansas, headquarters by our management teams located in the U. …

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