ENGLAND > AMC Theatres to Acquire Europe’s ODEON & UCI Cinemas in a $1.2B Deal

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Kansas-USA based Cinema giant AMC Theatres (AMC Entertainment Holdings, Inc.) acquires London based ODEON & UCI Cinemas Group, from private equity firm Terra Firma in a transaction valued around $1.2 billion. The deal is 75 percent in cash and 25 percent in stock.

In 2004 merger between ODEON and UCI Cinemas made them one the largest theater chain in Europe. With 244 venues, 2,243 screens and 90 million annual tickets sales, they are top exhibitor in Europe.

China’s Dalian Wanda Group owns AMC (acquired in 2012). Wanda AMC currently has 636 theaters with 7,623 screens in eight countries, making it the largest movie exhibition company in the world.

After the acquisition ODEON will be a wholly-owned subsidiary of AMC. There will be no name changes to theaters in the UK and Ireland, while theaters in Italy, Portugal, Germany and Austria will continue to operate under UCI brand.

 

About AMC Theatres (AMC Entertainment Holdings, Inc.)

AMC is the largest movie exhibition company in the world with approximately 636 theaters and 7,623 screens worldwide, including the largest cinema operator in Europe, ODEON Cinemas Group. It was founded in 1920 by the Dubinsky Brothers – Maurice, Edward and Barney. The company’s headquarters is in Leawood, Kansas, USA. A Chinese conglomerate – Wanda Group – acquired AMC in 2012 in a deal valued at around $2.6 billion.

AMC, through its ODEON subsidiary, operates in seven European countries and is the No. 1 theater chain in the UK & Ireland, Italy and Spain.

 

About Terra Firma Capital Partners Ltd.

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Terra Firma Capital Partners Ltd. is a UK-based private equity firm. Financier Guy Hands founded the firm in 2002 through the spin-off of Nomura Principal Finance Group. Terra Firma is headquartered in London with offices in Guernsey and Beijing. It has a staff of over 90 employees.

Terra Firma invests across a range of sectors with a focus on leveraged buyouts of large, asset-rich businesses, often with complex structural or regulatory issues. The firm often targets under-performing businesses in need of strategic, operational or management changes.

 

About ODEON and UCI Cinemas Holdings Limited

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ODEON and UCI Cinemas Holdings Limited, through its subsidiaries, owns and operates multiplex cinemas under the names of ODEON in the United Kingdom and Ireland; UCI in Germany, Italy, Austria, and Portugal; and Cinesa in Spain.

With 244 venues and 2,243 screens and 90 million tickets sold annually they are top exhibitor in Europe. They are headquartered in Whitcomb Street, London, United Kingdom.

 About Wanda Group

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Wanda Group is a Chinese multinational conglomerate corporation and the world’s biggest private property developer and owner and the world’s largest cinema chain operator, owning Wanda Cinemas, and the Hoyts Group.

The company operates in four major industries—commercial property, luxury hotels, culture and tourism, and department stores. The company was founded in Dalian, Liaoning, in 1988 as a residential real estate company by Wang Jianlin. Nowit is headquartered in Beijing.