A major British cinema operation looks like it’ll be under new ownership in the near future.
One of the biggest cinema chains in the UK is going up for sale this autumn, it’s been revealed.
Vue Cinemas, that has just shy of 900 screens around Britain, will begin a sale process over the coming months, with the chain valued at around £2bn.
The two majority shareholders in the company at the moment are both Canadian financiers. The Alberta Investment Management Corporation and pension fund Omers have 37% apiece, with the remaining 26% in the hands of the UK management team.
The sale is not expected to be a quick process, but don’t be surprised if one of the other cinema chains in the UK looks to acquire Vue and bolster their own screen counts.
More news as we get it.