– A merger of the Cathay Cineplexes and Golden Village cinema businesses appears to be off the cards. In a bourse filing on Friday, Cathay owner mm2 Asia said that the long-stop date of the agreement for the potential deal lapsed on Dec 31.
The update comes days after mm2 announced that its planned sale of the cinema business to local investment firm Kingsmead Properties had fallen through, due to uncertainty over the Omicron variant. Kingsmead will instead exchange its S$6 million deposit for 75 million new mm2 shares.
Source: https://www.straitstimes.com/