Doughty Hanson-backed Vue to take over CinemaxX

The company has already secured a share purchase agreement with CinemaxX's majority shareholder Dr Herbert Kloiber, who owns more than 22.8 million shares for an 84.6% stake. It will offer €6.45 per share, equalling a premium of 45% on the 9 July closing price.

The move will create a pan-European cinema group covering the UK, Ireland, Germany, Denmark and Portugal. It will present a rival to Terra Firma-backed Odeon and Blackstone-backed Cineworld.

The announcement comes two months after Vue took over the Apollo UK circuit. The combined group will operate 119 cinema complexes with close to 1,100 screens, more than 55 million attendances per year and more than 5,100 employees. CinemaxX generated revenues of €199.4m last year and an EBITDA of €41.2m.

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• Topics
• DACH
• Consumer
• Germany
• United Kingdom
• Doughty Hanson & Co
• Terra Firma
• Blackstone Group
• Denmark
• Portugal
• Ireland