13 Jul – Once its acquisition of London-based Odeon & UCI Cinemas Group is completed, AMC Entertainment will be the largest theatre exhibition company in the world.
"This is a once-in-a-generation opportunity to acquire Europe's leading cinema chain and create the world's biggest and best theatre operator," said AMC CEO and President Adam Aron in a statement.
The US cinema chain, owned by Chinese multinational conglomerate Dalian Wanda, announced today that it was acquiring the aforementioned European cinema chain from private equity firm Terra Firma for USD1.21 billion.
Odeon & UCI is currently the number one theatre operator in Europe with 242 theatres and 2,236 screens. It is the number one theatre operator in the UK & Ireland, Italy and Spain; the number two theatre operator in Austria and Portugal; and the number four theatre operator in Germany.
Once combined, AMC will be in possession of 627 theatres, with more than 7,600 screens in eight countries.
AMC is also looking to acquire US-based theatre exhibitor Carmike Cinemas.
AMC itself was previously a family-owned business before being acquired by the Beijing-based Dalian Wanda in 2012 for USD2.6 billion.