The American holding company 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 (near 1.091 billion euros), according to figures advanced 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 the definitive agreement for the purchase of 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 places, divided by UCI El Corte Inglés, Dolce Vita Tejo and ArrábidaShopping , having obtained a gross revenue of ticket 8.053 million euros in 2015, with 68,732 spectators , which corresponds to nearly 11 percent of the Portuguese display market (75,012,000 euros), supplanted only by NOS 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 stock, 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.
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