Skip to content

Chinese Wanda Acquires AMC for US$2.6 Billion

Xinhua reported that the Dalian Wanda Group finalized the acquisition of AMC, thereby becoming the world’s largest cinema owner. Wanda chairman Wang Jianlin made the announcement on September 4, 2012, that it had completed the acquisition, valued at US$2.6 billion, thus making it the largest ever purchase of a U.S. firm by a Chinese corporation. AMC is now a wholly owned subsidiary of Wanda and will receive cash injections of no more than US$500 million per year.

[Editors note: Boxun reported earlier this year that Wang Jianlin had allegedly bribed and helped Bo Xilai, the disgraced former senior Chinese Party official, who was Dalian’s mayor from 1993 to 2000, to climb the political ladder in exchange for lucrative deals. In a statement that Wanda issued in response to the reports, the company said that Wang Jianlin had won the "China Charity Award" and that Chinese Communist Party leaders received him in April.]

Xinhua, September 5, 2012, May 5, 2012