Chinese Group Wanda bought UCI Cinemas, the second largest exhibitor in Portugal – publico

 
         

                 

                         
                     

                 

 
 

holding US AMC Entertainment, owned by Wanda Group, Wang Jianlin Chinese tycoon, announced the purchase of the British group of Odeon & amp; UCI Cinemas, present in the Portuguese market, where it is the second largest exhibitor.

The transaction amounts to 921 million pounds (close to 1,091 billion euros), according to figures provided by international news agencies, and provides for the acquisition of the British group owns 242 cinemas and 2,236 screens (rooms) in the European market.

the executive chairman of the AMC group, Adam Aron, who announced the terms of the definitive agreement for the purchase Odeon & amp; UCI Cinemas, told the press that the deal was facilitated by the devaluation of the pound in the context of Brexit.

In Portugal, Cinemas UCI has 45 rooms and a total of 9,279 seats, allocated by the UCI El Corte Inglés the Dolce Vita Tejo and Arrábida Shopping, having obtained a gross revenue of ticket 8.053 million euros in 2015, with 68,732 spectators, which represents close to 11% of the Portuguese display market (75,012,000 euros) It is surpassed only by the US Audiovisual (46.655 million in the same period)

the Odeon & amp chains.; UCI Cinemas were acquired by Mainland venture capital fund, the financiero brit Guy Hands in 2004 by a total of EUR billion (Odeon, for 650 million; UCI, for 350 million).

the current agreement with the fund Terra Firma provides for an initial payment of 595 million euros in cash and shares, the AMC, which will assume later a debt of 484 million euros.

the AMC group Entertainment Holdings is the second largest chain of cinemas in the United States and, with the purchase of the European group, hopes to form one of the main display networks worldwide.

the AMC was bought by Wanda group in 2012, by 2.6 billion dollars (2,346 billion at the current price). Last March, according to Agence France Presse, has expanded its network of 5426 rooms, in the United States, for a total of 8380, with the purchase of 2954, the US group Carmike.

In China, the group has more than 200 shopping centers and, last May, opened the first twenty theme parks that you want to defeat the Disney, 2020, as the global benchmark in this sector.

President the board of directors of Wanda group, Wang Jianlin, appears in the 37th position of the 50 most influential people in the world, the ‘ranking’ Bloomberg financial news agency.

in addition to the business, Wang Jianlin served the Chinese army from 1970 to 1986 and was a member of the Communist Party in Congress.

With activity in the financial, cultural and real estate, the Wanda group was at the end of last year, the largest owner in the world with a portfolio of 133 buildings and 84 hotels, with a total area exceeding 26 million square meters.