Brief: SMI Culture & Travel Group Entered MoU Regarding Possible Acquisitions

Poly Culture

11/09/2019 16:27

Sept 11 (Reuters) - Smi Culture & Travel Group Holdings Ltd
 2366.HK :
    * ENTERED INTO MOU REGARDING POSSIBLE ACQUISITIONS
    * PURSUANT TO MOU 1 TOTAL COST OF TARGET COMPANY 1 IS
ESTIMATED TO
BE ABOUT HK$3 BILLION
    * TARGET COMPANY 1 HOLDS EQUITY INTERESTS OF CINEMAS IN PRC
OWNED
BY POLY CULTURE GROUP CORP
    * CO INTENDS TO ACQUIRE TARGET CO 2 AND OTHER CINEMA
OPERATING
BUSINESS IN PRC FOR ESTIMATED PRICE OF ABOUT HK$10 BILLION
    * CO TO BUY TARGET CO 2 FROM SMI HOLDINGS GROUP

Source text for Eikon:  ID:nHKS2n0KSL 
Further company coverage:  2366.HK 

 ((Reuters.Briefs@thomsonreuters.com;))