Malaysia’s largest movie theater operator Golden Screen Cinemas is to acquire the country’s third largest player MBO,
which last year filed for a creditor’s voluntary winding-up agreement as a result of the coronavirus’ negative impact on business. The move comes at a time when many of Malaysia’s cinemas are poised to reopen after the latest COVID shutdown.
GSC said that it will acquire the majority of the assets of MBO, which was previously backed by private equity firm Navis. It offered no financial details, but said that the purchase would likely be completed by the end of June.
MBO had operated 27 complexes across 10 states, though some of these were quickly hit by Malaysia’s lockdown measures, known as movement control orders. GSC operates 344 screens in 34 locations in Malaysia, though is understood to have permanently shuttered two multiplexes. It also operates 108 screens in 18 locations in Vietnam through a partnership with Galaxy Studio…