AMC Theatres has entered into a definitive agreement to acquire Odeon & UCI Cinemas Group for approximately £921 million, positioning itself as the largest movie theatre operator globally.

Target Information

AMC Theatres (AMC Entertainment Holdings, Inc.) has announced its definitive agreement to acquire Odeon & UCI Cinemas Group, the largest theatre exhibitor in Europe. London-based Odeon & UCI operates 242 theatres with a total of 2,236 screens, selling around 90 million tickets annually. The deal is valued at approximately £921 million, which includes £500 million for equity (75% cash and 25% stock), along with the assumption of £407 million in net debt, as of March 31, 2016.

Upon completion of the transaction, expected by December 31, 2016, AMC will operate a total of 627 theatres and over 7,600 screens across eight countries. This acquisition is considered a significant step in solidifying AMC's position as the largest movie theatre operator in the world.

Industry Overview

The cinema exhibition industry in Europe has shown resilience, attracting substantial audiences and generating significant revenue. Odeon & UCI stands as a cornerstone of this market, holding a prominent position particularly in the UK