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Company News

Britain's Cineworld scraps deal to buy Cineplex

June 12 (Reuters) - Britain’s Cineworld Group Plc said on Friday it abandoned its deal to buy Canada’s Cineplex Inc, citing breaches in the merger agreement between the cinema operators.

“As a consequence of... Cineplex’s unwillingness to cure the breaches, Cineworld has notified Cineplex that it has terminated the Arrangement Agreement with immediate effect,” Cineworld said in a statement. (Reporting by Shubham Kalia in Bengaluru; Editing by Shinjini Ganguli)

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