Shares in AMC Entertainment Holdings, Inc. fell this week following reports Chinese regulators told banks Wanda’s recent foreign transactions conflicted with restrictions on capital movement. Wanda bought a majority stake in AMC in 2012 for $2.6 billion. Wanda founder Wang Jianlin told a Chinese business magazine, Caixin, the revenue would be used to repay loans. Tuesday’s statement said AMC paid for the Carmike acquisition with its own cash, borrowing and stock, with no contribution from Wanda. The seller, Eldridge Industries, called off the deal in March, saying Wanda failed to complete the purchase.

Source: Washington Post July 19, 2017 05:37 UTC