You will be redirected back to your article in seconds

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

  • 1949: The famous children's author Enid

    'Paddington' Team Takes on Enid Blyton Classic 'Magic Faraway Tree'

    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 […]

  • IDFA: Brazil's 'Pirpipkura,' Wins Amsterdam Human

    IDFA: Brazilian Indigenous Peoples Doc 'Piripkura,' Awarded Amsterdam Human Rights Award (Watch Trailer)

    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 […]

  • 'Golden Dawn Girls' Review: A Grim,

    IDFA Film Review: 'Golden Dawn Girls'

    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 […]

  • IDFA: Profile of IDFA’s Bertha Fund

    IDFA: The Bertha Fund At 20 – ‘Bringing In New Voices, Other Stories’

    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 […]

  • IDFA: Håvard Bustnes On ‘Golden Dawn

    IDFA Golden Dawn Girls Director Håvard Bustnes, ‘The Far Right Movement Is Marching Again’

    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 […]

  • Justice League

    Korea Box Office: 'Justice League' on Top as Foreign Films Dominate

    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 […]

  • Amsterdam, 19 november 2009.IDFA 2009.Caspar Sonnen.Foto

    IDFA DocLab’s Caspar Sonnen: ‘We Can No Longer Just Blame Technology For Everything’

    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