May 15, 2019 / 6:23 AM / 4 months ago

Cineworld to sell, lease back 17 U.S.-based cinemas

May 15 (Reuters) - British cinema operator Cineworld Group Plc said on Wednesday it has signed a deal for the sale and lease back of 17 multi-screen cinemas in the United States.

Cineworld will sell the cinemas to units of Realty Income Corp for a cash consideration of $286.3 million and lease them back under 15-year leases. (Reporting by Tanvi Mehta in Bengaluru; Editing by Shounak Dasgupta)

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