Cineworld Backs Away From $2.1 Billion Deal for Canada’s Cineplex

ByNicole
cineworld-backs-away-from-$2.1-billion-deal-for-canada’s-cineplex

U.K.-based Cineworld Group has backed out of a deal to acquire Canada’s Cineplex Inc. for $2.1 billion, citing breaches in the agreement for the transaction.

Cineworld, parent of the Regal Cinema chain in the U.S., made the announcement Friday, saying it had become aware of certain breaches by Cineplex Inc.

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