Film producer Village Roadshow Entertainment Group is putting its plans to conduct an initial public offering on hold due to the recent volatility in global markets, though a deal could take place in the medium to longer term, the chief executive of the company’s biggest shareholder said Friday.
The company applied last year to list on the Hong Kong Stock Exchange in a deal that could have raised between US$200 million and US$300 million, people familiar with the transaction said at the time.
Chinese conglomerate Dalian Wanda Group Corp. has struck a deal to buy cinema chain AMC Entertainment Holdings, one of the year’s biggest deals by an Asian company into the U.S.
Wanda will pay $2.6 billion for the company, which is currently privately-owned by investors including Apollo Global Management, Bain Capital, Carlyle Group, CCMP Capital Advisors and Spectrum Equity Investors.
Wanda owns commercial properties across China, and has interests in hospitality and retail, including partnerships with hotel groups such as Accor, Starwood and Hilton, according to a statement from the company. It has been investing in the cultural industry since 2005, and is involved in film distribution and production. It said it made a profit of about $16.7 billion in 2007.
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Dealpolitik is Ronald Barusch's strategic look at deals currently making the headlines as well as the major forces at work in the deal-making world. He was a M&A; lawyer with Skadden, Arps, Slate, Meagher & Flom for over 30 years. He retired in 2010 after 25 years as a partner at the firm. Click here for his current and archived columns.
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