China’s Wanda Seeks Buyers for Australia’s Hoyts Cinema Chain
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variety.comPatrick Frater Asia Bureau Chief Wanda, the Chinese conglomerate that once threatened to take over Hollywood, has put up for sale the Hoyts cinema chain in Australia that it bought in 2015.
Hoyts is Australia’s second largest movie theater operator with 46 multiplexes housing 412 screens, according to 2022 data from Screen Australia.
It also owns Val Morgan, Australia’s biggest cinema advertising firm.Wanda Cinema Line, itself China’s biggest theater operator, has appointed Credit Suisse and Nomura to handle the sale.
Bidders are understood to have access to a “stapled debt” package (a line of agreed financing arranged by the banks) if the potential buyer cannot arrange sufficient finance of their own.
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