Cineworld Creates Movie Giant In $826M Cinema City Merger

Law360, New York (January 10, 2014, 12:40 PM EST) -- European movie theater rivals Cinema City International NV and Cineworld PLC will merge in a £503 million ($828 million) cash-and-stock deal, forming the second largest theater operator in the region, according to a Friday statement.

Under the terms of the merger, Cineworld will fork over £272 million in cash for the entire theater business of Cinema City, Cinema City Holding BV, according to a statement. Poland-based Cinema City will hold 24.9 percent of the emerging company’s shares, and at the completion of the deal, the company...
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