Regal parent Cineworld has decided to terminate the marketing process for its businesses outside of the U.S., UK and Ireland. Although it received offers from “a number of prospective counterpartie…
has decided to terminate the marketing process for its businesses outside of the U.S., UK and Ireland. Although it received offers from “a number of prospective counterparties,” the proposals “did not meet the value level required by the group’s lenders,” the exhibition giant said today. The so-called “rest of world” businesses include cinemas in Israel, Poland, Czech Republic, Slovakia, Hungary, Bulgaria and Romania.
Cineworld, which is aiming to emerge from bankruptcy in the first half of the year, similarly recently determined that it would cease seeking a buyer for its businesses in the U.S., UK and Ireland absent an all-cash bid significantly in excess of the value established under its proposed restructuring. Eliminating the possible sale transactions could help ensure that Cineworld meets its goal of emerging from Chapter 11 on an “expeditious timeline.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cineworld Scraps Plan to Sell Businesses Outside U.S. and U.K.The company said the bids for the units did not meet its valuations.
Read more »
DeSantis Has a Plan to Thwart Disney’s King Charles PlanThe governor says he’ll use the Florida legislature to regain power over a special tax district.
Read more »
Support for Japan PM Kishida jumps, but policies still a hard sell, survey showsSupport for the government of Japanese Prime Minister Fumio Kishida jumped in a survey taken at the weekend, but voters remained dubious about its proposals, including new childcare plans aimed at reversing the declining birthrate.
Read more »
It’s time to sell Infosys’ stock because growth leadership has been lost: analystInfosys Ltd.'s stock was downgraded to underweight at JPMorgan, which said the India-based IT company has lost its revenue-growth leadership.
Read more »
Sell stocks now as S&P 500 faces a 22% slide: FS Investments strategist'There's no reason to wait': Sell US stocks now before the S&P 500 tanks by over 20%, strategist says
Read more »
The best time to sell your home is this week, data revealsAccording to the research, the week of April 16-22 offers higher-than-average prices and a lower-than-average time on the market, while also offering a higher-than-average number of buyers.
Read more »