CCI and Cineworld cleared to merge movie theater businesses
February 14, 2014
Polish cinema operator CCI, the largest cinema operator in CEE, and British movie theater giant Cineworld got Poland’s antitrust body UOKiK approval for merging their cinema businesses, CCI said in a market filing.
The transaction is to be concluded within two weeks from its approval by CCI shareholders at a GM slated for February 24, the filing read.
CCI said it agreed to sell its cinema business to Cineworld Group in a cash and equity deal valuating the enterprise at some GBP 503 million back in January.
The merger of cinema operations of the two companies will result in the creation of Europe's second largest cinema chain operating 201 theaters with 1,852 digital screens.