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Cineworld Group's proposed acquisition of Cineplex for C$2.8B

Date Closed

June 12, 2020

Lead Office



2.80 Billion CAD

On December 16, 2019, Cineworld Group plc announced that it had entered into a definitive agreement to acquire Cineplex Inc., Canada’s largest cinema operator.

The agreement for the proposed transaction would see Cineworld Group acquire all of the issued and outstanding common shares of Cineplex in cash, for a total transaction value of approximately C$2.8 billion including the assumption of net debt. In June 2020, Cineworld terminated the agreement citing breaches of covenants by Cineplex and the occurrence of a Material Adverse Effect.

Cineworld Group plc was founded in 1995 and has grown through expansion and by acquisition to become the second largest cinema chain worldwide, holding the number one or number two position by number of screens in each of its regions.

McCarthy Tétrault LLP advised Cineworld Group plc with a core team led by David Woollcombe (as transactional lead) and Jason Gudofsky (as relationship partner and lead Competition/Investment Canada counsel) that included Rob Hansen, Heidi Gordon, Claire Lehan, Leah Whitworth, Matt Vaughan and Victoria Zed (Corporate), Debbie Salzberger, Kate McNeece and Erin Keogh (Competition/Investment Canada), Kelleher Lynch (Pensions & Benefits), Raj Juneja and Angelo Discepola (Tax), Patrick Pengelly (Labour & Employment), and Ted Cox (Real Property).