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Chinese property and investment firm Dalian Wanda Group had
acquired AMC Entertainment for $2.6 billion in 2012.
The deal is the latest in a series of acquisitions of U.S.
companies and assets by Chinese firms.
Chinese companies have been aggressively splurging on foreign
acquisitions to sidestep slowing domestic growth. Chinese firms
spent more than $100 billion on overseas acquisitions in 2015,
the most ever.
In February ChemChina agreed to buy Swiss seeds and pesticides
group Syngenta AG for $43 billion.
AMC will pay $30 per share in cash to buy all of Carmike's
outstanding shares, which represents a premium of about 19.5
percent to Carmike's Thursday's close.
The transaction will be funded through a combination of existing
liquidity, including cash on hand, and incremental debt. The
debt financing commitment is being provided by Citigroup Global
Markets Inc.
Dalian Wanda Group also agreed to acquire a majority stake in
Legendary Entertainment earlier this year, valuing the U.S.
movie studio company at between $3 billion and $4 billion.
AMC, the second-largest movie theater chain in North America,
currently has 387 locations and 5,426 screens while Carmike has
276 theaters with 2,954 screens in 41 states.
(Reporting by Nikhil Subba and Vishal Sridhar in Bengaluru;
Editing by Sandra Maler and Sunil Nair)
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