ING Bank to auction off nine sites
LONDON — Ster Century Europe has put all but one of its remaining cinemas up for sale. The South African-owned chain has appointed ING Bank to auction off nine multiplexes in Britain, Ireland and Spain.Last year Ster Century sold its sites in the Czech Republic, Hungary, Poland and Greece. That leaves the company with just one remaining theater in Slovakia. Ster Century said in a statement that the decision to sell the seven U.K. and Irish sites, and the two in Spain, was prompted by “a number of approaches from third-parties interested in acquiring these operations.” Company boasts that its U.K. market share grew from 1.9% to 2.5% in 2002, and that it achieved the second highest revenue per screen of any exhibitor in the second half of the year. The Liffey Valley cinema in Dublin is one of the top five theaters in the U.K. and Irish market.
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