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May 22, 2012

New Chinese owner wants to expand AMC worldwide

  • Wanda Group said it will invest an additional $500 million in development, which will allow AMC to renovate cinemas and install more 3-D and IMAX systems.

    • BEIJING (AP) — A Chinese conglomerate announced Monday it will buy a major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion in China's biggest takeover of an American company to date.

    Dalian Wanda Group Co.'s purchase reflects the global ambitions of a wave of cash-rich Chinese companies that are using acquisitions to speed their expansion by obtaining foreign skills and brand names.


     
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