Patrick Frater Asia Bureau ChiefMultinational cinema operator Cineworld says that it has reached an agreement with creditors over a disputed and delayed repayment.
The agreement gives Cineworld three additional months to settle the debt.The London Stock Exchange-listed company acquired U.S.
theaters giant Regal Entertainment in 2017 for an agreed $3.6 billion. But a group of minority dissenting shareholders claimed that Cineworld had underpaid.Between May and September last year Cineworld and the investors, known as the Regal Litigation Parties, agreed that Cineworld should pay an additional $255 million.
In September, Cineworld said that it would pay $170 million, with a further $92 million placed in escrow and to be paid out no later than the end of March 2022.
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