By Jill Goldsmith Tenedora de Cines, owner of exhibition giant Cinepolis, has acquired 2.8 million shares, or 2.4%, of U.S exhibitor Cinemark, according to an SEC filing Wednesday.
Another 17 individuals who are executives and part of the company’s founding family have acquired various smaller positions that total 6.1%.
An SEC filing is required in cases where passive investors take 5% or more of a company’s equity. The individuals include Alejandro Ramírez Magaña, the CEO of Cinepolis (which was founded by his grandfather) and his father Enrique Ramírez Villalón, who is chairman of the board.
They are among the country’s most prominent businessmen. Cinépolis is the biggest theater chain in Mexico with 427 locations in 97 cities.
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