AMC unloads Cinemex to Larrea

Exhibitor sells film operator for $315 million

Exhib AMC’s plans to sell Mexican operator Cinemex for an estimated $315 million to billionaire German Larrea have been given the greenlight by Mexico’s competition commission (CFC).

Sale was first announced following Kansas City-based AMC’s SEC filing on Nov. 7.

Larrea will likely merge Cinemex’s 44 multiplexes (493 screens) into his own MMCinemas loop, which has 87 plexes (more than 900 screens), making it a formidable contender to national leader Cinepolis.

Mexico’s third-richest man, according to Forbes, Larrea purchased MMCinemas in February through holding company Entretenimiento GM de Mexico. Together, MMCinemas and Cinemex look to pin down more than a 30% market share compared to Cinepolis’ 49.5%.

Although the CFC decision means the deal will close speedily, the pricetag may still fluctuate due to potential peso devaluation and the payment of an estimated $77.5 million in debt, which will be fixed depending on Cinemex’s final cash holdings at the close of the sale.

More Film

  • Kobe Bryant

    Kobe Bryant Lands Oscar Nomination for 'Dear Basketball'

    Exhib AMC’s plans to sell Mexican operator Cinemex for an estimated $315 million to billionaire German Larrea have been given the greenlight by Mexico’s competition commission (CFC). Sale was first announced following Kansas City-based AMC’s SEC filing on Nov. 7. Larrea will likely merge Cinemex’s 44 multiplexes (493 screens) into his own MMCinemas loop, which has 87 plexes (more […]

  • Oscars: Academy Shakes Up the Race

    Oscars: Academy Shakes Up the Race as 'Shape of Water' Takes Frontrunner Status

    Exhib AMC’s plans to sell Mexican operator Cinemex for an estimated $315 million to billionaire German Larrea have been given the greenlight by Mexico’s competition commission (CFC). Sale was first announced following Kansas City-based AMC’s SEC filing on Nov. 7. Larrea will likely merge Cinemex’s 44 multiplexes (493 screens) into his own MMCinemas loop, which has 87 plexes (more […]

  • Biggest Oscar Snubs & Surprises: James

    12 Biggest Oscar Nominations Snubs and Surprises

    Exhib AMC’s plans to sell Mexican operator Cinemex for an estimated $315 million to billionaire German Larrea have been given the greenlight by Mexico’s competition commission (CFC). Sale was first announced following Kansas City-based AMC’s SEC filing on Nov. 7. Larrea will likely merge Cinemex’s 44 multiplexes (493 screens) into his own MMCinemas loop, which has 87 plexes (more […]

  • Assassination Nation Sundance

    Sundance: 'Assassination Nation' Sells for More Than $10 Million

    Exhib AMC’s plans to sell Mexican operator Cinemex for an estimated $315 million to billionaire German Larrea have been given the greenlight by Mexico’s competition commission (CFC). Sale was first announced following Kansas City-based AMC’s SEC filing on Nov. 7. Larrea will likely merge Cinemex’s 44 multiplexes (493 screens) into his own MMCinemas loop, which has 87 plexes (more […]

  • WONDER WOMAN

    'Wonder Woman' Completely Snubbed for Oscar Nominations

    Exhib AMC’s plans to sell Mexican operator Cinemex for an estimated $315 million to billionaire German Larrea have been given the greenlight by Mexico’s competition commission (CFC). Sale was first announced following Kansas City-based AMC’s SEC filing on Nov. 7. Larrea will likely merge Cinemex’s 44 multiplexes (493 screens) into his own MMCinemas loop, which has 87 plexes (more […]

  • Meryl Streep Cecil B. DeMille Award

    Meryl Streep Breaks Own Record With 21st Oscar Nomination

    Exhib AMC’s plans to sell Mexican operator Cinemex for an estimated $315 million to billionaire German Larrea have been given the greenlight by Mexico’s competition commission (CFC). Sale was first announced following Kansas City-based AMC’s SEC filing on Nov. 7. Larrea will likely merge Cinemex’s 44 multiplexes (493 screens) into his own MMCinemas loop, which has 87 plexes (more […]

  • Oscars 2018: Greta Gerwig Joins Female

    Oscars: 'Lady Bird's' Greta Gerwig Becomes Fifth Woman Nominated for Best Director

    Exhib AMC’s plans to sell Mexican operator Cinemex for an estimated $315 million to billionaire German Larrea have been given the greenlight by Mexico’s competition commission (CFC). Sale was first announced following Kansas City-based AMC’s SEC filing on Nov. 7. Larrea will likely merge Cinemex’s 44 multiplexes (493 screens) into his own MMCinemas loop, which has 87 plexes (more […]

More From Our Brands

Access exclusive content