
Cineplex approves sale of nearly all shares to U.K.-based Cineworld
TORONTO, ON – Cineworld has moved one step closer to acquiring Canada’s largest chain of movie theatres.
It was first reported in December 2019 that the British company was looking to buy Cineplex Inc. for around $2.15-billion CAD.
At a special meeting of shareholders in Toronto on Tuesday, shareholders have granted approval for the sale of approximately 99.59% of its shares, valued at around $34 per share.
Cineplex will apply for a final order from the Ontario Superior Court of Justice on February 18 to approve the transaction.