Actera in $800m exit of Mars Cinema Group

Actera and Esas Holding will exit their combined 69.5% stake in the company, alongside the 30.5% held by Mars' minority shareholders Muzaffer Yildirim and Menderes Utku.

CJ CGV will take a 38.12% stake in the company, with undisclosed investors acquiring the balance, according to Kirkland & Ellis, legal advisers to the vendors.

The deal is expected to close in May and is subject to local regulatory approvals.

Under Actera's ownership, Mars has grown its cinema screen portfolio from 218 to 736 through a mix of organic growth and acquisitions, and has established a cinema advertising company as well as a film distribution division.

The GP claims to have achieved eight times revenue growth and 11 times EBITDA growth, though it declined to comment on any specific financial figures or additional details about the deal.

Previous funding
Actera acquired a 55% stake in Mars Cinema Group in August 2010, drawing on capital from its maiden fund. The deal saw previous backer Colony Capital exiting its holding in the company.

The following year, the Sabancı family invested for a 10% stake through its family office Esas Holding.

Company
Headquartered in Istanbul, Mars Cinema Group is a Turkish cinema business that operates 83 multiplex screening facilities across the country.

In addition to its cinema operations, Mars also encompasses advertising business Mars Media and film distribution business Mars Dagitim.

People
Actera – Murat Cavusoglu (co-founder, managing partner).
CJ CGV – Seo Jung (CEO).

Advisers
Vendor – Goldman Sachs (corporate finance); Morgan Stanley (M&A); Kirkland & Ellis, David Arnold, Amelia Doughty (legal).
Equity – Citigroup (corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• CEE
• Consumer
• Turkey
• Actera
• Goldman Sachs
• Citigroup
• Morgan Stanley
• Trade sale