mm2 Asia receives offer for cinema business

mm2 Asia receives offer for cinema business
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SINGAPORE (July 28): mm2 Asia has entered into a non-exclusive binding term sheet with Kingsmead Properties on Wednesday, whereby the latter has offered to buy over 80% of the issued and paid-up share capital in mm Connect.

mm Connect is a wholly-owned subsidiary of mm2 Asia, which owns the group’s cinema business. It operates eight cinemas in Singapore and 13 cinemas in Malaysia, as well as a movie film distribution business.

Kingsmead Properties is a Singapore-incorporated company, where it is...(click on link for full story on theedgesingapore.com)