Dalian Wanda, which acquired AMC Entertainment in 2012, surrendered control of the struggling exhibitor as it issued and sold tranches of new stock to raise cash — diluting the stake of the Chinese conglomerate.
CEO Adam Aron confirmed the Wanda era was over although the company continues to be AMC largest single largest shareholder. Wanda holds less than 10% of the world’s biggest cinema chain. “They have been absolutely delightful,” he said on a post-earnings conference call…
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