To add into Slava's analysis:
The break fees in the deal are interesting too.
Cineworld would have to pay $50MM to Cineplex, this in and of itself isn't that remarkable, and pretty small in the scheme of things.
However, there is an additional break fee of $50MM that would be paid by the Majority Shareholder of Cineworld. The majority shareholder is the Greidinger family. The Co-CEOs of Cineworld are Moshe and Israel Greidinger.
So, there is a personal break fee for the CEOs of Cineworld.
Also interesting of note today is that Cineworld has obtained covenant relief for their June covenant test, and a waiver of up to 9x D/E until the end of 2020.
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Pylon on the Edmonton Oilers:
"I am actually more excited for the Oilers game tomorrow than the Flames game. I am praying for multiple jersey tosses. The Oilers are my new favourite team for all the wrong reasons. I hate them so much I love them."
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