Last week’s big news was the announcement that UK/European exhibitor Vue had acquired Italian cinema chain The Space. Having previously expanded into Germany and Poland, this was a vote of confidence in the troubled south European market – though The Space is the cinema leader in an otherwise fragmented market, plus Italy had unless most other European territories an excellent cinema year in 2014.
European exhibitor Vue Entertainment International said Thursday it has agreed to acquire The Space Entertainment, a cinema chain in Italy with 36 multiplex theaters with 362 screens.
The deal is Vue’s fourth acquisition in the past three years and is supported via a follow-on investment from the firm’s Canadian owners Omers Private Equity and AIMCo. Over the past three years, Vue has more than doubled the number of cinemas and screens under its ownership from 70 to 187 cinemas and from 678 to 1,727 screens. LINK
China (PRC) – Wanda has re-filed its IPO documents for a listing in Shenzen. So much for the conspiracy theories that the first failure was a face saving strategy to list in Hong Kong or abroad.
Wanda Cinema Line, China’s biggest theaters chain, has re-filed its application for an IPO.
Its earlier attempt to float on the Shenzhen stock market in July was denied by regulators who said that its documentation was insufficient.
The company plans to issue 60 million shares and raise RMB2 billion ($326 million) of fresh capital. LINK