Cin­ema chain gets $260m from GIC

China Daily (Hong Kong) - - BUSINESS -

GIC Pte, Sin­ga­pore’s sov­er­eign wealth fund, agreed to part­ner with an In­done­sian cin­ema op­er­a­tor by in­vest­ing 3.5 tril­lion ru­piah ($260 mil­lion), to help ex­pand the the­ater chain across the coun­try. PT Nu­san­tara Se­jahtera Raya, which op­er­ates the Cin­ema 21, Cin­ema XXI and The Pre­miere brands in In­done­sia, has en­tered into a strate­gic part­ner­ship with GIC, the com­pa­nies said in a joint state­ment on Monday. The com­pany op­er­ates 157 cin­e­mas across 36 cities in In­done­sia, Nu­san­tara Se­jahtera Raya said in the state­ment.

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