CINEPOLIS ACQUIRES STAKE IN CINEMARK | 21 May, 2020

Tenedora de Cines, owner of Mexico’s largest cinema chain, Cinepolis, has acquired 2.8 million shares or 2.4% of US exhibitor Cinemark, according to an SEC filing on 20th May. Another 17 individuals, who are executives and part of the company’s founding family, have acquired various smaller positions that total 6.1%.

The individuals include Alejandro Ramirez Magaña, CEO of Cinepolis, and his father, Enrique Ramirez Villalón, chairman of the board of directors. Cinepolis has 427 cinemas in Mexico, spread across 97 cities. It is also the largest cinema chain in Latin America, and the fourth largest in the world (624 cinemas, 5,000 screens)

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