TSMP advises MM2 Asia on its acquisition of Cathay Cineplexes for 230 Million SGD
TSMP is pleased to have advised entertainment company mm2 Asia in its acquisition of a household brand, Cathay Cineplexes, in a SGD 230-million dollar deal signed this morning. The deal will see mm2 Asia take over Singapore’s eight Cathay cinemas, bringing its total number of screens to 206 across 27 locations, including in Malaysia.
Mr Melvin Ang, group executive chairman of mm2 Asia, said: "Many Singaporeans grew up with the highlight of their weekend or school holiday being a visit to Cathay cinemas. The Cathay name is very much a part of Singapore's history and mm2 is proud to be entrusted with the Cathay legacy."
He added that his team is "resolved to not only zealously protect Cathay Cinemas' legacy, but also realise (the) vision for Cathay Cinemas to be one of the major film exhibitors in the Asian market that is held by Cathay Organisation's managing director Choo Meileen.