AMC Takeover of Odeon & UCI Approved by European Regulators

AMC Entertainment’s $1.2-billion deal to acquire Europe’s Odeon & UCI Cinemas has been approved by regulators at the European Commission. The deal can now move forward and is expected to close by Nov. 30.

With Odeon & UCI as Europe’s biggest cinema chain, AMC is set to become the largest movie-theater operator in the world, overtaking Regal Entertainment.

Earlier this week shareholders of the smaller North American chain Carmike gave their approval of another $1.2-billion deal to sell the company to AMC. That deal is subject to regulatory clearance in the U.S. and may not close until early 2017.

AMC is listed on the New York Stock Exchange and is majority-owned by China’s Dalian Wanda group.

AMC is buying Odeon from U.K. private equity firm Terra Firma. The deal involves $467 million of cash (GBP375 million), the issue of AMC shares worth $158 million (GBP125 million) and the repayment of $588 million (GBP472 million) of debt.

Odeon & UCI operates 244 theaters and 2,251 screens in the U.K., Ireland, Spain, Italy, Germany, Austria and Portugal. Revenues for 2015 were $1.14 billion, and in the six months to June this year were $526 million.

After the Odeon & UCI acquisition, but before the Carmike deal, the combined AMC will have 632 theaters with more than 7,500 screens in eight countries.

More Biz

  • Doug Morris

    Doug Morris to Exit Sony Music at the End of March

    AMC Entertainment’s $1.2-billion deal to acquire Europe’s Odeon & UCI Cinemas has been approved by regulators at the European Commission. The deal can now move forward and is expected to close by Nov. 30. With Odeon & UCI as Europe’s biggest cinema chain, AMC is set to become the largest movie-theater operator in the world, […]

  • Oprah Responds to Trump Tweet Claiming

    Oprah Responds to Trump's Tweet Claiming Bias in '60 Minutes' Segment

    AMC Entertainment’s $1.2-billion deal to acquire Europe’s Odeon & UCI Cinemas has been approved by regulators at the European Commission. The deal can now move forward and is expected to close by Nov. 30. With Odeon & UCI as Europe’s biggest cinema chain, AMC is set to become the largest movie-theater operator in the world, […]

  • Music Theatre International

    Drew Cohen Named Global CEO of Music Theatre International

    AMC Entertainment’s $1.2-billion deal to acquire Europe’s Odeon & UCI Cinemas has been approved by regulators at the European Commission. The deal can now move forward and is expected to close by Nov. 30. With Odeon & UCI as Europe’s biggest cinema chain, AMC is set to become the largest movie-theater operator in the world, […]

  • 'Daily Show's' Michelle Wolf to Host

    'Daily Show' Contributor Michelle Wolf to Host White House Correspondents' Dinner

    AMC Entertainment’s $1.2-billion deal to acquire Europe’s Odeon & UCI Cinemas has been approved by regulators at the European Commission. The deal can now move forward and is expected to close by Nov. 30. With Odeon & UCI as Europe’s biggest cinema chain, AMC is set to become the largest movie-theater operator in the world, […]

  • Harvey Weinstein ousted

    Weinstein Co. Sued by Lindt Chocolatier Over Canceled Golden Globes Party

    AMC Entertainment’s $1.2-billion deal to acquire Europe’s Odeon & UCI Cinemas has been approved by regulators at the European Commission. The deal can now move forward and is expected to close by Nov. 30. With Odeon & UCI as Europe’s biggest cinema chain, AMC is set to become the largest movie-theater operator in the world, […]

  • Pandora Shares Surge as Fourth-Quarter Subscription

    Pandora Shares Surge as Fourth-Quarter Subscription Revenue Climbs 63%

    AMC Entertainment’s $1.2-billion deal to acquire Europe’s Odeon & UCI Cinemas has been approved by regulators at the European Commission. The deal can now move forward and is expected to close by Nov. 30. With Odeon & UCI as Europe’s biggest cinema chain, AMC is set to become the largest movie-theater operator in the world, […]

  • Eric Schneiderman

    Weinstein Co. Deal Moving Ahead After Three-Hour Meeting With Attorney General

    AMC Entertainment’s $1.2-billion deal to acquire Europe’s Odeon & UCI Cinemas has been approved by regulators at the European Commission. The deal can now move forward and is expected to close by Nov. 30. With Odeon & UCI as Europe’s biggest cinema chain, AMC is set to become the largest movie-theater operator in the world, […]

More From Our Brands

Access exclusive content