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Two of Wanda s representative on AMC s board will resign from their positions.
Wanda Group has almost doubled its initial investment of $700 million in AMC.
Dalian Wanda Group, the Chinese multinational conglomerate with interests in property development and cinemas, has sold all of its remaining stake in the AMC Entertainment Holdings Inc (NYSE: AMC), the world’s largest operator of movie theaters, according to the Wall Street Journal.
Shares of AMC are up almost 5 times this year in a Reddit-fueled frenzy and currently trading at around $13.5, up 12% for the day.
A short history of the two companies
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