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Cinemark Holdings Inc To Sell Assets To Settle Antitrust Concerns Surrounding Rave Holdings LLC Buy-DJ


Monday, 20 May 2013 05:23pm EDT 

Dow Jones reported that Cinemark Holdings Inc has agreed to sell movie theaters in three U.S. states as part of regulatory requirements to acquire Rave Holdings LLC, the Department of Justice said. Cinemark, a U.S.-based company with a significant presence in Latin America, in November agreed to buy movie theaters from Rave cinemas in 12 states. The settlement requires Cinemark to divest movie theaters in Kentucky, New Jersey and Texas in order to proceed with the $220 million acquisition. In addition, Cinemark's chairman has to sell Movie Tavern Inc., which operates theaters in Ft. Worth and Denton, Texas, that compete with Rave Cinemas, the DOJ said. 

Company Quote

34.9
-0.55 -1.55%
19 Sep 2014