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FountainVest acquires 10% stake in IMAX China

9 Apr 2014

cinema 12_sqCanadian cinema chain IMAX has agreed to sell a 20 per cent stake in its Chinese business to private equity firm FountainVest Partners and investment group China Media Capital (CMC).

CMC and FountainVest will each pay $40m for a ten per cent stake in the company.

IMAX also said that it is looking to float its Chinese subsidiary.

IMAX CEO Richard Gelfond said, “China is an enormously complex market in which we have accomplished quite a bit over the last 15 years.

“At this juncture, it makes sense to bring in Chinese investors to help us better address local market dynamics and further optimize our business in China.”

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