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French Chargeurs buys Dutch MGM screens

French textiles and communications giant Chargeurs will buy the 69 Dutch screens of MGM Theaters , Europe ‘s largest cinema chain.

In a June 6 statement, Chargeurs said it had signed an agreement June 2 with Credit Lyonnais to buy the Dutch circuit. MGM’s Dutch operation accounts for 30% of the Dutch exhibition market and last year had revenues of 220 million francs ($45 million). Because Credit Lyonnais is a public company, the French government still has to sanction the acquisition.

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