Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

UK’s Cineworld to not sell assets individually, denies talks with AMC

by Staff GBAF Publications Ltd
0 comment

(Reuters) -Cineworld, the British cinema operator in bankruptcy proceedings, said on Tuesday it would not sell any of its assets individually, and that it had not held discussions with AMC Entertainment about the sale of any of its theatres.

The British company said it would focus on selling the group as a whole rather than disposing of individual assets, along with its restructuring efforts, and was expecting to start reaching out to potential parties for a sale later this month.

Cineworld said on Tuesday it had not held discussions with AMC about the sale of any of its cinema assets, in response to media reports, and that talks about a reorganisation of its U.S. operations were ongoing.

In October, Cineworld, the world’s second-largest cinema chain operator, announced a bankruptcy settlement with its landlords and lenders, clearing the way for the company to borrow funds and make a $1 billion debt repayment.

AMC last month said it was no longer in talks to buy some theatres owned by Cineworld following initial talks with some lenders.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Saumyadeb Chakrabarty and Nivedita Bhattacharjee)