Canada Competition Bureau approves Empire Co's sale of cinemas

Reuters

OTTAWA, Oct 29 (Reuters) - Canada's Competition Bureau saidon Tuesday it had approved the sale of cinemas by Empire CompanyLtd to Cineplex and Landmark after requesting somechanges.

Under the terms of the revised deal, Cineplex and Landmarkwill buy a total of 46 cinemas from Empire. When Empireannounced the deals in June it said the total value of thetransactions would be about $255 million.

Empire had initially planned to sell two cinemas in Ontarioto Cineplex. The bureau said this would decrease competition andas a result, Landmark agreed to buy the two cinemas instead.

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