Cineworld Won’t Sell Assets Individually, Says No Talks With AMC
deadline.comExhibition giant Cineworld, which filed for Chapter 11 bankruptcy in the U.S. last September, has said it will not sell off any of its assets individually, and has clarified that neither it nor its advisors have participated in discussions with AMC regarding the sale of any of its cinemas.
This comes about two weeks after AMC said it held talks with lenders about potentially acquiring theaters from the portfolio of its rival.
In an SEC filing in late December, AMC said talks with Cineworld lenders were related to the Chapter 11 bankruptcy process and that an unspecified number of theaters in the U.S.
and Europe were discussed. At the time, it also stated the “negotiations are not continuing.” Cineworld today said it understands that neither the ad hoc group of lenders under the Group’s 2018 credit facility, nor its advisors, were party to discussions with AMC.
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