AMC Entertainment has become the world’s largest cinema chain operator after completing its £921m acquisition of the UK’s Odeon cinema chain.
The US-based AMC chain, which is owned by Dalian Wanda’s Wang Jianlin, is buying Odeon from Guy Hands’ Terra Firma, which invested in the chain 12 years ago.
The deal includes £407m of net debt, which will be paid for in both cash and equity.
Odeon operates 244 cinemas, comprising more than 2,200 screens, in the UK and Europe. Its acquisition by AMC gives the US operator more than 7,600 screens worldwide across 627 cinemas.
Odeon will continue to be headquartered in London and will operate as a subsidiary of AMC.
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