You will be redirected back to your article in seconds

Onex to spin exhib assets

Co. to offer Cineplex Galaxy Income Fund units

HOLLYWOOD — Onex, a diversified conglom based in Toronto, has confirmed in a regulatory filing its intent to spin off its Canadian exhibition assets into an income trust.

Move involves a variation on a conventional initial public offering. Instead of offering shares in the company itself as with a traditional IPO, units in the Cineplex Galaxy Income Fund will be offered.

No U.S. offering

The units will not be traded in the U.S., an Onex spokesman said.

Proceeds from the income offering will be invested in Cineplex Galaxy Limited Partnership, and the partnership will acquire assets of Onex’s two Canadian circuits — Cineplex Odeon and Galaxy Entertainment. Once the transactions are completed, the partnership will operate 81 theaters with 731 screens.

Underwriting syndicate for the offering will be co-led by RBC Capital Markets and Scotia Capital. Onex detailed its plans for the income trust in a preliminary prospectus circulated Friday.

More Biz

  • Lupita Nyong'o Harvey Weinstein

    Lupita Nyong'o Details Harvey Weinstein's Advances Toward Her in Op-Ed: 'I Felt Unsafe'

    HOLLYWOOD — Onex, a diversified conglom based in Toronto, has confirmed in a regulatory filing its intent to spin off its Canadian exhibition assets into an income trust. Move involves a variation on a conventional initial public offering. Instead of offering shares in the company itself as with a traditional IPO, units in the Cineplex […]

  • David Blaine Rape

    David Blaine Accused of Rape by Former Model

    HOLLYWOOD — Onex, a diversified conglom based in Toronto, has confirmed in a regulatory filing its intent to spin off its Canadian exhibition assets into an income trust. Move involves a variation on a conventional initial public offering. Instead of offering shares in the company itself as with a traditional IPO, units in the Cineplex […]

  • Harvey Weinstein Quentin Tarantino

    Quentin Tarantino on Harvey Weinstein: 'I Knew Enough to Do More Than I Did'

    HOLLYWOOD — Onex, a diversified conglom based in Toronto, has confirmed in a regulatory filing its intent to spin off its Canadian exhibition assets into an income trust. Move involves a variation on a conventional initial public offering. Instead of offering shares in the company itself as with a traditional IPO, units in the Cineplex […]

  • Harvey Weinstein

    LAPD Investigating Rape Claim Against Harvey Weinstein

    HOLLYWOOD — Onex, a diversified conglom based in Toronto, has confirmed in a regulatory filing its intent to spin off its Canadian exhibition assets into an income trust. Move involves a variation on a conventional initial public offering. Instead of offering shares in the company itself as with a traditional IPO, units in the Cineplex […]

  • Shia LaBeouf Toronto Film Festival

    Shia LaBeouf Found Guilty on Count of Obstruction in July Arrest

    HOLLYWOOD — Onex, a diversified conglom based in Toronto, has confirmed in a regulatory filing its intent to spin off its Canadian exhibition assets into an income trust. Move involves a variation on a conventional initial public offering. Instead of offering shares in the company itself as with a traditional IPO, units in the Cineplex […]

  • Scrips Discovery Partnership

    A Merger Between Scripps and Discovery Could Be a Smart Fit

    HOLLYWOOD — Onex, a diversified conglom based in Toronto, has confirmed in a regulatory filing its intent to spin off its Canadian exhibition assets into an income trust. Move involves a variation on a conventional initial public offering. Instead of offering shares in the company itself as with a traditional IPO, units in the Cineplex […]

More From Our Brands

Access exclusive content