AMC Entertainment Holdings is going after a wider audience with the coming acquisition of European movie theater operator Odeon & UCI Cinemas Group.
The deal, valued at roughly $650M, would make AMC the largest theater operator in the world—that’s right, the world. Odeon & UCI have 242 theaters in seven countries throughout Europe, with a total of 2,236 movie screens. AMC will purchase the European theater operator from private equity firm Terra Firma with both cash and debt. The deal is projected to close in Q4, MarketWatch reports.
AMC also is working to buy Carmike Cinemas for $1.1B, though that deal has been delayed due to investors’ worries about the risks associated with the acquisition. [MW]
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