Terra Firma looking to sell Odeon & UCI

Terra Firma acquired and merged Odeon and UCI in 2004, a deal estimated to be worth around €1bn. The private equity firm also supported the company over the investment period by injecting £89m for bolt-on acquisitions and £143m in capital expenditure. It reportedly hired Bank of America Merrill Lynch to handle the sale process.

Odeon & UCI operates around 1,850 screens across 200 cinemas. It posted an £80m turnover in 2009, up 11% from the previous year.

Rival chain Vue has been tipped as a likely buyer. The company, which operates around 70 cinemas in the UK, was acquired by Doughty Hanson for £450m in October 2010. This move would however be closely scrutinised by competition regulators.

On the private equity side, BC Partners and OMERS Private Equity could be tempted to bid for Odeon & UCI - both firms were unlucky participants in the UBS-run auction process of Vue last year.

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• Topics
• UK / Ireland
• Consumer
• Exits
• Terra Firma
• BC Partners