Cineworld preps $2.3bn package amid North America shopping trip

By Karoliina Liimatainen
16 Dec 2019

Multiplex cinema chain Cineworld is betting on rapid expansion as it pours more billions into another North American acquisition. Cineworld, which is among the most shorted companies in the UK, plans to acquire Canadian competitor Cineplex in a $2.1bn deal financed by debt. This plan comes nine months after it made a $3.6bn acquisition in the US.

Cineworld announced on Monday that it is acquiring Cineplex, Canada’s largest cinema chain. It completed the buyout of Regal Entertainment Group, a US cinema chain, in March.

Cineworld will finance the new acquisition by issuing $2.3bn of debt, made of a $1.9bn senior secured term loan and a $300m ...

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