Dentons Paz Horowitz played a key role in facilitating the acquisition of Cinemark’s local operations in Ecuador by the Ecuadorean cinema chain Multicines. The deal, which concluded on November 6 for an undisclosed sum, saw Multicines becoming the exclusive shareholder of Cinemark’s Ecuadorean subsidiary.
As part of the acquisition, Multicines gained control of all seven movie theaters owned by Cinemark in Ecuador, strategically located in Quito, Guayaquil, Manta, Ambato, and Latacunga. With this move, Multicines aims to make strategic investments in the acquired cinema assets to enhance overall operational efficiency.
Headquartered in Quito, Multicines manages a total of 18 cinemas across Ecuador, employing approximately 340 individuals. The acquisition aligns with Multicines’ broader strategy to strengthen its presence and capabilities in the cinema industry.
Dentons Paz Horowitz, represented by partners Jorge Paz and AgustÃn Acosta, along with counsel Lorena Vivanco and associates Eduardo Esparza, Sara Romero, and Valeria Rosero, served as legal counsel to Multicines throughout the acquisition process. The successful conclusion of this transaction positions Multicines for continued growth and expansion of the cinema landscape in Ecuador.
