Manori Ravindran International EditorAMC Entertainment is selling off nine of its Baltic theaters in a €65 million ($77 million) deal.The company said Monday that it has signed a deal to sell nine venues across Latvia, Lithuania and Estonia — cinemas AMC took on as part of its $929 million acquisition of Nordic Cinema Group in 2017.
UP Invest, owners of a Baltics cinema group, will acquire all nine cinemas.AMC president and CEO Adam Aron said the Baltics agreement 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.
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