Poland-based CCI cinemas merge with British Cineworld Group
January 13, 2014
Warsaw-listed movie theater operator Cinema City International (CCI) agreed to sell its business to Britain's cinema giant Cineworld Group in a cash and equity deal valuating the enterprise at some GBP 500 million the firm said in a market filing on Friday.
Under the deal, CCI will get a 24.9% stake in the merged business.
Cineworld is Britain's largest cinema operator by market share.
CCI owns cinemas in Poland, Hungary, Bulgaria, Israel, Hungary and elsewhere. The combined group will have 201 sites and 1,852 screens.