Jan 23, 2017 12:17 UTC AMC to Acquire Nordic Cinema Group – Bonnier Sells Minority Stake
AMC Theatres, the world’s leading cinema company, is acquiring Nordic Cinema Group, which includes Swedish cinema chain SF Bio.
AMC is acquiring the Nordic Cinema Group (NCG) from Bridgepoint and Bonnier Holding. In conjunction with the change in ownership, Bonnier Holding is selling its 30 percent stake in the company for SEK 1.6 billion.
“Through its successful and substantial investments in better cinema experiences, the Nordic Cinema Group has improved profitability and contributed to the cinema’s strong position in Sweden. Now the company will have a new owner with a successful nearly 100-year history in the cinema industry,” says Erik Haegerstrand, CEO, Bonnier Holding.
“For Bonnier, the increased value achieved by the Nordic Cinema Group contributes to our financial strength, and provide more room to maneuver in the future. Growth in recent years shows that the cinema industry continues to be strong, and we believe cinemas will remain an important arena for film. Through SF Studios, the Nordic region’s leading production and distribution company, Bonnier will continue to be heavily involved in the Swedish film industry.”
The Nordic Cinema Group is the Nordic and Baltic region’s leading cinema company with 68 wholly owned and 50 partially owned cinemas in Sweden, Finland, Norway and the Baltic region. The company was formed in March 2013 in a deal where Bonnier-owned SF Bio merged with Ratos-owned Finnkino. In 2015, Ratos sold its majority stake to Bridgepoint.
AMC Theatres opened its first cinema in Kansas City in 1920, and is the world’s largest and leading cinema company. Through the acquisition of the British Odeon Cinemas Group, AMC has a significant presence in the European market, with 244 cinemas in the U.K., Ireland, France, Spain, Italy, Austria and Portugal.
The Nordic Cinema Group will be part of Odeon Cinemas, which comprises AMC’s European operations. The head office will remain in Stockholm under the leadership of CEO Jan Bernhardsson.
The transaction is conditional upon antitrust clearance by the European Commission, which is expected to be received in the first half of 2017.
For More Information:
Erik Haegerstrand, CEO Bonnier Holding, can be reached via David Salsbäck, Director of Communications, Bonnier AB, +46 (0)8 736 40 47; [email protected]
Press release from AMC and Nordic Cinema Group
Bonnier Holding is the parent company for Bonnier’s operations, and includes media group Bonnier AB, real estate group Bonnier Fastigheter and other investments.
Bonnier is an international multi-channel media group.
Contacts
David Salsbäck Director of Communications Communication, Public Affairs [email protected] +46 (0)8 736 40 47