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CJ CGV, entered the Russian market

NSP NEWS AGENCY, By dILFUZA Sultanova Jo, 2017-10-29 12:20 END7
#CJ CGV #ADG Group #theater #contract #Russia

(Seoul=NSP News Agency) dILFUZA Sultanova Journalist = CJ CGV signed a joint venture (JV) agreement with ADG Group, a Russian real estate developer, on Oct. 23 at Seoul CGV Yongsan Ipark Mall. Two companies will open theaters sequentially in Moscow from next year and plan to operate 33 theaters and 160 screens by 2020.
In 2014, the ADG Group received orders from the Russian government to develop and operate a shopping center, including 39 multiplex theaters in Moscow.
The project is worth about $ 990 million, with a total construction area of 480,000 square meters. By 2020, CJ CGV was focused on shopping centers and theater operators. This year, it reached an agreement with the ADG Group.
CJ CGV should invest 70%, and ADG Group - 30% to establish a joint venture (JVC) in Hong Kong Under the contract.

NSP News Agency/NSP TV dILFUZA Sultanova Journalist, dilfuza@nspna.com
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