SINGAPORE (Reuters) - Chinese tycoon Wang Jianlin's Wanda Cinema Line Corp <002739.SZ>, the country's biggest cinemas operator, said on Thursday it plans to acquire movie-making affiliate Wanda Media for 37.2 billion yuan (4 billion pounds) in cash and shares.
Wanda Cinema, whose parent Dalian Wanda Group acquired U.S. film studio Legendary Entertainment in January for about $3.5 billion, said it plans to acquire Wanda Media, which now owns Legendary Pictures.
The company also said it aims to raise up to 8 billion yuan in a private placement of shares to help fund the building of theatres and replenish working capital, according to a filing on the Shenzhen stock exchange.
"The completed transaction will help the listed company set a global strategy in consolidating film assets at home and abroad," it said.
In 2012 Dalian Wanda bought AMC Entertainment Holdings Inc (N:AMC), North America's second-largest cinema chain, for $2.6 billion.
Wanda Cinema's shares will remain suspended since a halt on February 24.