A Chinese conglomerate, Dalian Wanda Group has received approval to buy the second largest theater chain in the U.S., Kansas City-based AMC Theaters. The deal has been cleared by the Committee on Foreign Investment in the U.S.
AMC has over 5,000 screens in 346 theaters in the U.S. and Canada. The deal was for 2.6 billion dollars, and makes Wanda Group the world’s largest cinema operator.
The transaction is expected to be completed in August.