Cineplex Inc., Canada's leading entertainment and media company, has agreed to sell its amusement division, Player One Amusement Group, to OpenGate Capital, a US private equity firm, in a deal valued at $155 million.
The deal unlocks tremendous value for Cineplex and its stakeholders, while providing immediate liquidity for repayment of net proceeds against the company's credit facility.
Goodmans LLP acted as the legal counsel and Scotiabank and TD Securities as financial advisors to Cineplex. The Goodmans team was led by Tim Heeney and included Brandon Hoffman, Laura Corridore, Matt Erdman, David Rosner, Josh Zelikovitz, and Ken Saddington.
Blakes Cassels & Graydon LLP acted as legal counsel to OpenGate.