AMC Tries to Steer Clear of Chinese Owner’s Debt Worries
“Wanda does not actively participate in the day-to-day running of AMC beyond the board of directors.”
Shares in AMC dropped 10 percent on Monday after a mysterious document on social media claimed
that regulators in China were warning state-run banks against financing Wanda’s deals overseas.
By AMIE TSANG and SUI-LEE WEEJULY 18, 2017
AMC Entertainment tried to distance itself on Tuesday from debt concerns around its Chinese parent company
that have sent shares in the American cinema chain falling.
They worry that excessive loans to companies like Wanda
and the property developer Sunac China Holdings, which have stakes in several sectors, could put the broader economy at risk.
“Wanda has been a terrific shareholder, and we are grateful for Wanda’s support of AMC’s efforts over
the past few years to grow our business,” Adam Aron, AMC’s chief executive, said in a statement.