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Phuong Nam Culture decides to completely divest from CGV Vietnam

Due to financial difficulties, Phuong Nam Cultural Joint Stock Company will sell the remaining 7.5 per cent stake in CJ CGV Vietnam Company Limited, the largest film distributor and cinema operator in Vietnam, at the expected price of VND101 billion, equivalent to $4.34 million.

Phuong Nam to divest from Korean cinema chain CGV

Under pressure to pay a $7-million debt and an $812,115 interest, Phuong Nam Culture JSC or PNC has to sell more than half of its shares held in CJ CGV Vietnam Co., Ltd.

Gaining over $118 million on revenue, is CGV taking over the cinema market in Vietnam?

The CGV cineplex Vietnam is posing a risk of exclusive distribution in the current cinema market, especially, with the recent shutdown of Platinum, another big competitor.

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