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Herbert Smith Freehills has advised Cineplex Inc., one of Canada's leading entertainment and media companies, on the recommended acquisition by Cineworld Group plc. With over 11,200 screens around the globe, the proposed transaction will create one of the world's largest cinema companies.

Cineplex shareholders will receive C$34 in cash for each common share, valuing Cineplex at approximately C$2.8 billion. The transaction is a class 1 transaction of Cineworld and the UK Listing Rules and will therefore require the approval of Cineworld shareholders. Completion of the transaction is also conditional on, amongst other things, the approval of the transaction by Cineplex shareholders and certain regulatory approvals. The transaction is expected to close during the first half of 2020.

The Herbert Smith Freehills team was led by corporate partner Caroline Rae, with assistance from corporate senior associates Charles Steward and Sarah Ries-Coward. Partner Isaac Zailer advised on tax matters.

Herbert Smith Freehills worked closely with Cineplex's Canadian counsel, Goodmans LLP.

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Lydia Lam

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