Go Global: Wanda’s Top 10 Foreign Acquisitions
Wanda-owned AMC Entertainment Holdings Inc announced this month that it had entered into a “definitive agreement” to buy the London-based Odeon & UCI Cinemas Group for around 921 million pounds ($1.2 billion).
AMC Entertainment, the second-largest movie theatre chain in North America, was acquired by Chinese conglomerate Dalian Wanda Group Co Ltd in 2012 for $2.6 billion.
Since it bought AMC Entertainment in 2012, Wanda has been enthusiastic in purchasing overseas companies covering film-related industries, sports, travel and property for five consecutive years.
Here’s a brief history of Wanda’s overseas acquisitions.
Odeon & UCI Cinemas Group
Date: July 12, 2016
Country: United Kingdom
Amount: 921 million pounds ($1.21 billion)
As a leading European cinema operator, Odeon & UCI had 242 theatres with 2,236 screens in Europe as of December 2015, according to a BBC report.
AMC Entertainment will pay 500 million pounds ($660m) in cash and stock and 407 million pounds ($537m) in debt.
With AMC Entertainment’s 627 theatres and more than 7,600 screens in eight countries, the deal will make it the biggest theatre operator in the world.
Carmike Cinemas Inc
Date: March 4, 2016
Country: US
Amount: $1.1 billion
Calling itself “America’s Hometown Theatre”, Carmike Cinemas Inc is the fourth-largest movie theater company in the United States, having 276 theaters with 2,954 screens in 41 states as of March 31, 2016, according to carmikeinvestors.com.
AMC Entertainment in March announced its intention of buying Carmike Cinemas and its debt for around $1.1 billion. It is still in the process of acquisition.
Legendary Entertainment
Date: January 12, 2016
Country: United States
Amount: $3.5 billion
Wanda’s acquisition of US film studio Legendary Entertainment in 2016 for $3.5 billion marked it as China’s largest overseas cultural acquisition to date.
Legendary Entertainment has produced 46 feature films, including such blockbusters as Jurassic World, Hangover series, and the Dark Knight Batman trilogy.
World Triathlon Corp (WTC)
Date: August 26, 2015
Country: US
Amount: $650 million
Headquartered in Florida, WTC is the world’s largest operator of Ironman events and the most well-known Ironman brand, accounting for 91 percent of the global market share of long-distance triathlon events.
HG Holdco Pty Ltd
Date: June 23, 2015
Country: Australia
Amount: 2.25 billion yuan ($336 million)
Hoyts Group, the second-largest movie theater operator in Australia, was acquired by Wanda for 2.25 billion yuan.
Hoyts has 424 screens at 52 theaters in Australia and New Zealand.
Infront Sports & Media AG
Date: June 23, 2015
Country: Switzerland
Amount: 1.05 billion euros ($1.1 billion)
Wanda bought Infront Sports & Media with a group of investors for 1.05 billion euros ($1.1b), owning 68.2 percent stake of the company.
Infront Sports & Media is the world’s most respected international sports marketing company, holding broadcasting rights to some of the globe’s biggest sporting events such as the soccer World Cup.
Atletico Madrid Football Club
Date: January 21, 2015
Country: Spain
Amount: 45 million euros ($50m)
Wanda acquired 20 percent stake in Atletico Madrid, a Spanish professional football club based in Madrid, for $52 million in 2015.
Edifico Espana (Spain Building)
Date: June 5, 2014
Country: Spain
Amount: 265 million euros ($294m)
Wanda in 2014 purchased Edifico Espana, also known as Spain building, a historical landmark in Madrid for 265 million euros($294m) from Santander Group, Spain’s largest banking corporation.
However, after its renovation plan being thwarted by local government and people, Wanda decided to sell the building this year, according to a report by cankaoxiaoxi.com.
Sunseeker International
Date: June 19, 2013
Country: UK
Amount: 320 million pounds ($422m)
Wanda purchased about 92 percent stake in Sunseeker International, UK’s leading luxury yacht maker, for 320 million pounds ($422m) in 2013.
Sunseeker yachts have featured in the James Bond film series since 1999.
AMC Entertainment Holdings Inc
Date: May 21, 2012
Country: US
Amount: $2.6 billion
In March, AMC Entertainment announced it would like to buy US movie theatre operator Carmike Cinemas Inc and its debt for around $1.1 billion. It is still in the process of acquisition.
