Nancy Tartaglione International Box Office Editor/Senior ContributorCineplex on Friday filed a suit against Cineworld Group after the latter terminated a deal to acquire the Canadian exhibitor in June.
The action, at the Ontario Superior Court of Justice, seeks damages including the approximately $2.18B ($1.6B) that Cineworld would have paid upon closing the transaction, as well as compensation for “other losses,” Cineplex said in a statement.
Cineworld today has said it will make a counter claim.In December last year, Cineworld, which owns Regal in the U.S. and is the 2nd largest exhibitor in the world, announced a proposed C$2.1B purchase of Cineplex which would have made Regal the bggest cinema circuit in North America by number of.
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