Jill Goldsmith Co-Business EditorAMC Entertainment said Monday it’s agreed to sell its nine theaters in the Baltic region (Latvia, Lithuania, and Estonia) to UP Invest for €65 million (about $77 million) as it continues to shore up its balance sheet.The move follows a capital raise and debt restructuring July to bolster liquidity and strengthen its balance sheet, said CEO Adam Aron.
He said the deal purchase price represents a 9.3x multiple of anticipated 2020 EBITDA (earnings before interest, taxes, depreciation and amortization) before the onset of COVID-19, which AMC called an attractive “transaction multiple that underscores the inherent value of our theatre portfolio and resilience of our business.” “We continue to be encouraged by.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.