(May 21, 2012, Weil News)
International law firm Weil, Gotshal & Manges LLP represented AMC Entertainment Holdings, Inc. (AMC), a preeminent US movie exhibitor, in an agreement to be acquired by Dalian Wanda Group Co., Ltd. (Wanda), a leading Chinese private conglomerate and China’s largest investor in cultural and entertainment activities, in a transaction valued at approximately $2.6 billion.
“We are excited to assist on this significant transaction,” said Weil partner Douglas Ryder. “M&A activity in Asia has been robust since the start of the year and we are pleased to have played a role both on this transaction and others thus far this year.”
Weil has been involved in a number of recent significant transactions in Asia including the representation of:
- Yahoo! Inc. in its agreement to sell back half of its 40% stake in Alibaba Group Holding Limited for $7.1B
- The Special Committee of the Board of Directors of Shanda Interactive Entertainment Limited in its $2.3 billion going-private merger, the largest going private of a US-listed Chinese business
- GE in the historic joint venture with Aviation Industry Corp (deal announced by China President Hu Jing Tao to the US last year)
- GE in the global transmission and distribution partnership with XD Electric Group
- Lion Capital LLP in the $1.9 billion sale of Weetabix Food Co. to Bright Food Group Ltd., in one of the largest overseas acquisitions ever by a Chinese company in the food and beverage sector
The core Weil team was led by New York corporate partner Douglas Ryder and associates Katherine M. Krause and Matthew R. Brush, and assisted by Shanghai partner Anthony Wang, New York partner Michael Nissan and Dallas partner Angela L. Fontana.
to read the joint AMC and Wanda press release announcing the deal.
This news also appeared in the following publications (may require registration/subscription):
- M&A Navigator: China’s Wanda agrees USD2.6bn deal for AMC Entertainment (May 20, 2012)
- Asian Legal Business: Weil Gotshal, Davis Polk star in $2.6 bln cinema merger (May 21, 2012)
- The Asset: Wanda set to become world’s largest cinema owner (May 21, 2012)
- Bloomberg: China’s Wanda to Buy AMC Cinema Chain for $2.6 Billion (May 21, 2012)
- The Deal of the Day Video: Wanda wins over AMC in largest US deal by Chinese buyer (May 21, 2012)
- GlobeSt.com: Dalian Wanda Takes AMC Theaters for $2.6B (May 21, 2012)
- Law360: Davis Polk Help Chinese Co. With $2.6B Buy of AMC (May 21, 2012)
- India Info Online: Wanda Group to acquire AMC Entertainment for US$2.6bn (May 21, 2012)
- RTTNews: Dalian Wanda Group Acquires AMC Entertainment For $2.6Bln. (May 21, 2012)
- The Deal: AMC Owners see paltry profits from theater chain (May 22, 2012)