Kinepolis Shelves Potential Bid for Cineplex

Kinepolis Group NV, a major European theater operator, considered but decided against bidding for Cineplex Inc., the leading Canadian chain, due to anticipated regulatory hurdles. Kinepolis may still pursue a deal by partnering with another bidder to acquire some of Cineplex’s theaters. Kinepolis holds about 13% of Canadian movie ticket sales through its Landmark Cinemas subsidiary. Cinepolis expanded into the North American market through acquisitions of Landmark in 2017 and Michigan-based MJR Digital Cinemas in 2019.