Corporación Interamericana de Entretenimiento, S.A.B. de C.V. the leading "out of home" entertainment company in Latin America, today announced an agreement to sell its three amusement parks in Mexico to a group of local investors.
- The three parks are La Feria de Chapultepec, CICI and Selva Mágica, located in Mexico City, Acapulco and Guadalajara, respectively.
- The transaction is valued at 260 million pesos, with proceeds used to continue strengthening the Company’s financial structure.
- The sale is expected to close within 30 days.
Victor Murillo, Chief Financial Officer of CIE, said: "This divestiture is an important part of our strategic focus on the Company’s core businesses, CIE Entertainment, CIE Las Américas and CIE Commercial, and allows us to continue strengthening our financial structure."
CIE continues to seek a strategic sale of its three remaining amusement parks, Wannado in the United States and two facilities in Colombia.
Closure of the above transaction is subject to customary conditions and therefore there is no certainty that it will occur as described.
Created in 1990, Corporación Interamericana de Entretenimiento, S.A.B. de C.V. (CIE), was a pioneer in the "out of home" entertainment industry in Latin America. Today CIE is the largest producer of "live" events in Latin America, and one of the leading companies in the gaming industry in Mexico. In addition, its commercial platform of alternative advertising channels and properties make CIE the third-largest advertising network in Mexico. CIE is a public company whose shares have been listed on the Mexican Stock Exchange since 1995 under the symbol “CIE.”
Jorge Padilla, Investor Relations t. (52.55) 52019353 firstname.lastname@example.org