NEW YORK (AP) – Chinese conglomerate Wanda says it has closed on the acquisition of AMC Entertainment Holdings, one of the largest movie theater chains in the U.S.
The $2.6 billion deal is the largest takeover yet of a U.S. company by a Chinese firm. It also makes Wanda the world’s largest owner of cinemas.
Wanda, founded in 1988 and privately owned, operates hotels, department stores, tourism and other businesses. It has 94 theaters in China.