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Cinema City’s owner in Eastern Europe deal

15:51 10 January 2014

Cinema City, Norwich.

Cinema City, Norwich.

Archant © 2011; 01603 772434

The UK’s largest cinema operator is buying about 100 multiplexes in eastern Europe and Israel in a cash and shares deal worth about £500m.

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Cineworld, which owns Cinema City in Norwich, is buying the outlets from Cinema City International (CCI), which is listed on the Warsaw stock market.

The UK company will pay CCI £272m in cash, and has launched a £110m rights issue to help fund the purchase.

Cineworld chairman Anthony Bloom called the deal “an exciting and unique opportunity” for his company.

Audiences in eastern Europe are growing fast.

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3 comments

  • The name Ciema city does have a hint of the eastern Europe about it.

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    Steely Dan

    Friday, January 10, 2014

  • The Noverre Cinema was a true "Art Film" cinema,that it was closed is a disgrace.Cinema City show mainly re runs of popular films having completed their runs with the big cinema chains,its a pleasant place to visit though

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    Albert Cooper

    Saturday, January 11, 2014

  • I believe Cinema City is operated (but not owned) by Picturehouse Cinemas whose parent is Cineworld. Details details.

    Report this comment

    Mr Rationality

    Friday, January 10, 2014

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