Texas Entertainment SEC Southern Provident Party Covenant Texas

Regal Parent Cineworld Has Reached Out To 30 Potential Buyers As It Pursues Sale, Initial Bids Due Next Month

Reading now: 935
deadline.com

Regal parent Cineworld said it’s opted to pursue a sale of assets and the process “is well under way” with non-binding bids due Feb 16.

The company said in a bankruptcy filing that it’s reached out to 30 “potential transaction parties” including many competitors.

If the debtors (Cineworld and its affiliates) find one of more of the bids to be “a potential value maximizing proposition, a second phase of the process will commence with the solicitation of binding offers.” U.K.-based Cineworld filed for Chapter 11 in September in bankruptcy court in the Southern District of Texas.

It announced early this month that it had started a marketing process to find a strategic or financial buyer. A reorganization was also an option but the company said it hadn’t yet received a response to a restructuring proposal provided to the Ad Hoc Group on Dec.

Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA