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KUALA LUMPUR (March 2): Golden Screen Cinemas (GSC), which is owned by PPB Group Bhd, said today it is acquiring the majority of cinema assets from the operators of the MBO chain of cinemas, which is currently undergoing a creditors’ voluntary winding-up.
In a statement today, GSC said it signed an asset sale agreement on Feb 23 to acquire the said assets from MCAT Box Office Sdn Bhd and Reel Entertainment Holdings Sdn Bhd, which are both in creditors’ voluntary winding-up.
The deal is expected to be completed by June, it added. However, the statement did not elaborate on the size and value of the acquisition. MBO, according to its official website, has a total of 27 cineplexes across 10 states.
PPB-owned Golden Screen Cinemas to buy Navis-backed MBO Cinemas in Malaysia
March 2, 2021
Malaysian conglomerate PPB Group’s cinema arm Golden Screen Cinemas (GSC) is acquiring the majority of the cinema assets of MBO cinemas, which is currently undergoing a voluntary winding up in the hands of creditors.
GSC said in a statement on Tuesday that it signed an agreement on Feb 23 to acquire the assets from the operators, MCAT Box Office Sdn Bhd and Reel Entertainment Holdings Sdn Bhd, which is undergoing voluntary winding-up.
The deal is expected to be completed by June but the size and value of the acquisition remain undisclosed.
Ekuinas chief executive officer Syed Yasir Arafat Syed Abd Kadir said Ekuinas’ entry into the healthcare and pharmaceutical space was timely as it looked to capitalise on global megatrends and demographic shifts amid the emergence of Covid-19.
KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) made its foray into the pharmaceutical industry with the acquisition of a controlling stake in Medispec (M) Sdn Bhd.
The government-linked private equity fund management company said the acquisition was based on an enterprise value of RM88.5mil.
Ekuinas chief executive officer Syed Yasir Arafat Syed Abd Kadir said Ekuinas’ entry into the healthcare and pharmaceutical space was timely as it looked to capitalise on global megatrends and demographic shifts amid the emergence of Covid-19.
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