China firm buys US movie theater chain

Dalian Wanda Group Co. announced on Monday that the 2.6-billion-dollar deal is China’s biggest corporate takeover in the United States to date.

The company said it will invest an additional USD 500 million to fund AMC’s development.

AMC operates 346 cinemas, mostly in the United States and Canada, and says it has 23 of the 50 highest-grossing US outlets.

Having thousands of billions of dollars, China has purchased many Western companies over the past years.

The United States is currently the biggest US debtor in the world.

Dalian Wanda Group has annual revenues of USD 16.7 billion from five major divisions — commercial properties, luxury hotels, tourism, cultural-entertainment industries and department stores.

AGB/IS

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