Dalian Wanda, a Chinese real estate conglomerate, has agreed to buy AMC Entertainment Holdings, the US cinema chain, for $2.6bn in a deal that underscores China’s dealmaking firepower amid a flagging US economic recovery.
The deal, which is Wanda’s first in the US market, will create the world’s largest cinema operator and take the Chinese group into the heart of the US entertainment industry.
Under the agreement, AMC will become a wholly owned subsidiary of Beijing-headquartered Wanda, a privately held group whose $35bn in assets spans shopping malls and theme parks to art collections.
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