Belgian Competition Authority Confirms Relaxation of Behavioral Conditions Imposed on Kinepolis Group
Brussels, Belgium (May 2, 2018) – Following the partial annulment last 28 February by the Court of Appeal of Brussels, of the decision taken by the Belgian Competition Authority on 31 May 2017, to relax the behavioral conditions imposed on Kinepolis Group as of 31 May 2019, the aforementioned Authority has taken a new, thoroughly motivated decision on 26 April 2018.
The decision confirms the previous relaxation of the behavioral conditions, which means that the opening of new cinema complexes in Belgium is no longer subject to prior approval of the Competition Authority, but this will enter into force as of 26 April 2020.
Kinepolis is pleased that the Competition Authority reaffirms its position in this matter and has confidence that this new decision will allow to finalize the procedure.
Kinepolis Group NV was formed in 1997 as a result of the merger of two family-run cinema groups and was listed on the stock exchange in 1998. Kinepolis offers an innovative cinema concept which serves as a pioneering model within the industry. In addition to its cinema business, the Group is also active in film distribution, event organization, screen publicity and property management.
In Europe, Kinepolis Group NV has 50 cinemas spread across Belgium, the Netherlands, France, Spain, Luxembourg, Switzerland and Poland. Since the acquisition of the Canadian movie theatre group ‘Landmark Cinemas’ in December 2017, Kinepolis now also operates 44 cinemas in Canada.
In total, Kinepolis Group currently operates 94 cinemas (43 of which it owns) worldwide, with a total of 822 screens and more than 180,000 seats. Including the acquired Canadian organization, Kinepolis now employs 3,750 people, all committed to giving millions of visitors an unforgettable movie experience.