AMC Entertainment Holdings Inc. is rebutting what it calls “erroneous information” in reports about the role of its Chinese majority owner in funding recent acquisitions.
The Leawood, Kansas-based theater chain said in a release that it funded a series of four big acquisitions without money from majority owner Dalian Wanda Group Co. Ltd. In addition, AMC said it never has received committed financing from any bank based in mainland China — for acquisitions or any other purpose.
AMC officials felt it necessary to spell out the degree of its independence after reports said Chinese officials had spoken to the nation’s big banks about limiting loans to Dalian Wanda. A story in The Wall Street Journal initially said the move could affect funding for AMC’s purchases of Odeon & UCI Cinemas Group and Nordic Cinema Group; that story has since been corrected.
“AMC is an American company run from its Leawood, Kan., headquarters by our management teams located in the U.S. and Europe,” CEO Adam Aron said in a release. He added that Dalian Wanda has been “a terrific shareholder” and supporter of AMC’s growth, but that it “does not participate in AMC’s day-to-day operations.”
Read more: Kansas City Business Journal