The agreement calls for AMC to receive approximately half of the sale proceeds on signing and the balance upon closing in each country after antitrust resolution in the coming months.
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Growing consumer confidence in our cleaning and safety protocols continues to generate increased attendance and food and beverage spend, and we look forward to offering a full slate of new and entertaining film product to further drive attendance over the remainder of 2020.” “We continue to be encouraged by attendance levels at theatres that have reopened in Europe, where essentially all theatres are open, and in the U.S., where almost 300 theatres are currently open for business. “This transaction marks yet another bold and decisive action taken, on the heels of our capital raising in April and debt restructuring and capital raising in July, to bolster our liquidity and strengthen our balance sheet at a transaction multiple that underscores the inherent value of our theatre portfolio and resilience of our business,” said Adam Aron, CEO and President of AMC.
(AMC), today announced that it has signed a definitive agreement to sell nine theatre locations in the Baltic region (Latvia, Lithuania, and Estonia) for €65 million which equates to approximately $77 million. Leawood (Kansas) (August 31, 2020) – AMC Entertainment Holdings, Inc.
UP Invest, the owner of a Baltics cinema group, will acquire all nine AMC theatre locations in Latvia, Lithuania, and Estonia
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