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Cineworld Abandons Plan To Sell Businesses In Israel, Eastern Europe

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deadline.com
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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 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.

Read more on deadline.com
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