AMC Theatres Agrees To Acquire Starplex For $172 Mln In Cash

(RTTNews) - AMC Theatres (AMC) and privately-held Starplex Cinemas have entered into a definitive purchase agreement for AMC to acquire Starplex for $172 million in cash, subject to working capital and other adjustments.

When completed, AMC will operate 380 theatres with 5,300 screens. The acquisition will expand AMC's ability to deliver an exceptional movie experience to more movie-goers.

The transaction is expected to lead to earnings-per-share, EBITDA and cash flow accretion, exclusive of one-time transaction-related charges, in 2016 and beyond. AMC said its quarterly dividend would be maintained.