PARIS– Cinémas Gaumont Pathé, a leading theater circuit in France, Netherlands and Switzerland, has acquired EuropaCorp’s multiplex business.
EuropaCorp’s exhibition activity comprises its Aéroville multiplex in Tremblay-en-France (near Paris’s Charles de Gaulles Airport) and the La Joliette multiplex project in Marseilles.
The deal has just been cleared and completed, after the two companies had announced they were having exclusive discussions on Sept. 30.
The sale of EuropaCorp’s multiplexes and its subsequent pull-out from the exhibition business underscores the company’s renewed focus on its core activities, which are the production and distribution of French- and English-language films and TV series for global audiences.
French financial analysts have also noted that EuropaCorp’s sale of its multiplexes was also meant to make the company more attractive to potential investors.
EuropaCorp recently allied with Mark Gao’s Fundamental Films which became the company’s second biggest shareholder with a 28% share.
Chaired by Luc Besson, the company held a board meeting last evening with Geo and CEO Marc Shmuger, along with other shareholders, to go over quarterly financial results, discuss its joint venture with Relativity and strategize the upcoming release of “Valerian and the City of a Thousand Planets.” As reported in Variety yesterday, EuropaCorp is having discussions with Lionsgate and STX to partner up on the U.S. release of “Valerian.”