Tenedora de Cines, owner of exhibition giant Cinepolis, has acquired 2.8 million shares, or 2.4%, of U.S exhibitor Cinemark, according to an SEC filing Wednesday. Another 17 individuals who are exe…
Another 17 individuals who are executives and part of the company’s founding family have acquired various smaller positions that total 6.1%.The individuals include Alejandro Ramírez Magaña, the CEO of Cinepolis and his father Enrique Ramírez Villalón, who is chairman of the board. They are among the country’s most prominent businessmen. Cinépolis is the biggest theater chain in Mexico with 427 locations in 97 cities.
A spokesperson for Cinemark wasn’t immediately available to comment. But the Plano-Texas based chain, the nation’s second largest, used to be a player in Mexico before selling its theaters there to Grupo Cinemex in 2013. It still operates theaters in 15 other countries in Central and South America.the chain is looking to reopen by July 1 with employees coming back roughly two weeks prior in late June.
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