Magazine article Screen International

China-Owned AMC to Acquire Nordic Cinema Group in $929M Deal

Magazine article Screen International

China-Owned AMC to Acquire Nordic Cinema Group in $929M Deal

Article excerpt

AMC Theatres, the American cinema chain owned by China's Dalian Wanda Group, has entered into an agreement for the acquisition of Nordic Cinema Group, the largest cinema operator in the Nordic and Baltic regions of Europe.

Nordic Cinema Group operates 68 theatres with 463 screens and has a substantial interest in a further 50 associated theatres with 201 screens across the Nordic and Baltic territories. It holds the number one market share position in Sweden, Finland, Estonia, Latvia and Lithuania, and is number two in Norway.

The deal is an all-cash transaction valued at $929m USD (SEK 8.25bn).

In 2015, Nordic Cinema Group had approximately $349m in revenue (SEK 2.938bn), including $229m (SEK 1.928bn) in box office. In the 12-month period to September 30, 2016, Nordic Cinema Group's revenues were $375m (SEK 3.159bn).

Going forward, Nordic Cinema Group will maintain a headquarters in Swedish capital Stockholm, but will operate as a subsidiary of London-based Odeon Cinemas Group, which was acquired by AMC in July 2016.

Upon the completion of the deal, AMC will now operate 1,000 theatres and 11,000 screens across 15 countries. …

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