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.