SINGAPORE (Nov 2): mm2 Asia has entered into an option agreement with Cathay Organisation for the purchase of 100% of Cathay Cineplexes.

The total consideration payable for the proposed acquisition is $230 million or 13.8 times Cathay Cineplexes' FY16 EBITDA.

The move will see mm2 Asia acquiring Cathay Organisation's entire Singapore cinema operations and the venerable “Cathay" brand.

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