22 May 2012 – LawFuel News –
Davis Polk is advising Dalian Wanda Group Co., Ltd. (Wanda) on its approximately $2.6 billion acquisition of AMC Entertainment Holdings, Inc. (AMC). As part of the transaction, Wanda intends to invest up to an additional $500 million in AMC over time to fund AMC’s strategic and operating initiatives. The transaction is subject to customary closing conditions and U.S. and Chinese regulatory approvals.
Wanda is a leading Chinese private conglomerate that operates in five major businesses, including commercial properties, luxury hotels, tourism investment, cultural industries and department stores. Wanda has been making significant cultural and entertainment investments since 2005, and with more than $1.6 billion invested in cultural and entertainment activities, Wanda has become China’s largest enterprise investor in that sector. AMC delivers distinctive and affordable movie-going experiences in 346 theatres with 5,034 screens primarily in the United States and Canada.
The Davis Polk corporate team includes partner Phillip R. Mills and associates Sapna Dutta, Brian Wolfe and Xiaoxi Lin, all of the New York office, and partner Howard Zhang of the Beijing office.