LEAWOOD , Kan., July 12 (UPI) -- Theater owner AMC Entertainment Holdings Inc. announced Tuesday it will buy Britain's Odeon movie theater chain in the first billion-dollar deal since June's Brexit vote.
AMC, owned by China's Dalian Wanda Group Co., will buy Odeon & UCI Cinemas Group, Europe's largest movie theater chain, for $1.2 billion in cash and stock, and assume Odeon's debt. With the referendum on Britain's leaving the European Union and the subsequent decline in the value of the British pound, the deal is much less expensive for AMC than it would have been several weeks ago.