Britain's Cineworld said on Wednesday its largest shareholder Global City Theatres (GCT) has agreed to refinance loans secured on its 20% holding of the cinema operator's shares. Our Standards: The Thomson Reuters Trust Principles.
Global City Theatres, the family trust of Cineworld chief executive Mooky Greidinger, said on Monday that it had agreed to sell a 7.9 per cent stake in the business for about £116m. Cineworld currently operates in the UK, Ireland, Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania, Israel and the US. The loans will be refinanced by Sand Grove Capital Management to GCT and include a charge over its holding of Cineworld shares, the company said.
This generated revenue growth of 7.2% and the company said it was trading in line with its expectations. Sept 2 (Reuters) - Britain’s Cineworld said on Wednesday its largest shareholder Global City Theatres (GCT) has agreed to refinance loans secured on its 20% holding of the cinema operator’s shares. In a sign of the impending tough period, Cineworld reportedly laid off 240 of its U.K. staff, part of its 37,000-strong global workforce, in March.
UK ‘s current politician can affect Cineworld’s strategies because politician can amend legislations, which will effects Cineworld strategies. A second theatre opened in Wakefield, West Yorkshire, in December 1996 and the third opened in Shrewsbury, Shropshire, in 1998. In 2004, Cineworld was acquired by Blackstone private equity group for £120m.
All quotes delayed a minimum of 15 minutes. Cineworld Plc is adhering all political rules and regulations according UK legislations. Cineworld was founded by Steve Wiener in 1995. Then 60,50 € per month.New customers onlyCancel anytime during your trial, Try full digital access and see why over 1 million readers subscribe to the FT, FT print edition delivered Monday - Saturday along with ePaper access, Premium FT.com access for multiple users, with integrations & admin tools, Purchase a Trial subscription for 1,00 € for 4 weeks, You will be billed 60,50 € per month after the trial ends, Purchase a Digital subscription for 6,50 € per week, You will be billed 37,50 € per month after the trial ends, Purchase a Print subscription for 14,98 € per week, You will be billed 64,92 € per month after the trial ends, Purchase a Team or Enterprise subscription for per week, You will be billed per month after the trial ends, Less than half UK population to receive coronavirus vaccine, says task force head | Free to read, Trump criticised for drive-by visit to thank supporters, Donald Trump returns to White House after three days in hospital, China rolls out experimental Covid vaccine as it eyes global market, Thousands of companies sue US over China tariffs, The end of the dollar’s exorbitant privilege, A new cold war: Trump, Xi and the escalating US-China confrontation, Samsung mounts 5G offensive as countries review Huawei networks, JPMorgan opens UK apprenticeship scheme to aspiring investment bankers, Thousands of jobs at risk as Cineworld closes UK and US screens, Business ethics guru accused of cheating shareholders, IMF calls on rich nations to boost public investment, Tidjane Thiam: ESG brings distinct value to developing nations, HPS raises $9bn as investors race into direct lending, Time is right for a new international debt architecture, The dangerous and inexorable rise of the instant expert, Why the world’s richest countries are not all rich, López Obrador becomes Latin America’s new strongman, Test before you board is the only route back to air travel, The hard business lessons Covid is about to teach, Remote working brings rich opportunities for Russia’s recruiters, Bold leadership is needed in complex times | Free to read, Gem up – why luxury clients are reaching for fine jewellery, Smart data to help spot risk and opportunity, Lex, our agenda-setting business commentary (Premium only), Due Diligence, an exclusive M&A newsletter (Premium only), For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news, MyFT – track the topics most important to you, FT Weekend – full access to the weekend content, Mobile & Tablet Apps – download to read on the go, Gift Article – share up to 10 articles a month with family, friends and colleagues, Integration with third party platforms and CRM systems, Usage based pricing and volume discounts for multiple users, Subscription management tools and usage reporting, Dedicated account and customer success teams.
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