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Jun 1, 2020

Investment Canada review of Cineplex-Cineworld deal extended to June 15

Investment Canada review of Cineplex-Cineworld deal delayed to June 15

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TORONTO -- Cineplex Inc. says the Investment Canada Act review of its deal to be acquired by Cineworld Group has been extended to June 15.

The review period had been set to end today.

The deadline to complete the $2.8-billion sale of the company to Cineworld is June 30.

The deal is subject to several conditions including approval under the Investment Canada Act.

Cineplex says if the conditions are not satisfied or waived by the deadline the deal will not be completed.

The company, like nearly all movie exhibitors, has faced a virtual shutdown since mid-March.