Owning the historic cineplex is part of its business expansion.
mm2 Asia Ltd (mm2 Asia) bought Cathay Organisation's Cathay Cineplexes for $230m.
According to an announcement, mm2 said the act is part of the expansion of its cinema business.
The cineplex operates cinemas in eight locations across Singapore, with a total of 64 screens or 11,569 seats.
The proposed acquisition is targeted for completion on 24 November 2017.
Following this acquisition, the Group, including through its cinema business in Malaysia operated by its wholly-owned subsidiary, mm2 Screen Management Sdn. Bhd. will own cinemas with a total of 206 screens across 27 locations.
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