Terra Firma looking to sell Odeon

Terra Firma reportedly hired Bank of America Merill Lynch to handle the sale of the asset back in April 2011. A month later, Odeon & UCI was refinanced with a £475m bond sale.

The GP first acquired cinema chains Odeon and UCI – then operating separately – with Alpinvest in 2004. Barclays provided mezzanine and senior debt. The deal was valued at more than £500m, with £100m in mezzanine loans.

According to reports, the sale could yield up to £1bn for the GP, preparing the firm to raise its next fund. Terra Firma closed its latest fund on €5.4bn in May 2007, only five months after its launch. The firm is also expected to exit Northern Ireland-based Phoenix Natural Gas.

Last week, Swedish media and publishing group Bonnier appointed Nordea to advise on its sale of cinema chain SF. Private equity firms, such as Sweden-based Ratos, could be potential buyers.

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• Topics
• UK / Ireland
• Consumer
• GPs
• Terra Firma
• United Kingdom
• Sweden
• Ratos Holding
• Nordea