TALLINN: International cinema giant AMC Theatres will acquire the Sweden-based cinema network Nordic Cinema Group for a reported 870 m EUR. Estonia’s cinema chain Forum Cinemas will be part of the deal.
Nordic Cinema Group is currently owned by private investment company Bridgepoint and Bonnier Holding. According to Kristjan Kongo, member of Forum Cinemas board, the purchase will place Forum Cinemas under the ownership of AMC Theatre’s subsidiary Odeon Cinemas Group. The chain’s cinemas in Estonia will, however, keep operating under the established Forum Cinemas brand. The new ownership will focus on both Forum Cinemas exhibition and distribution businesses.
Nordic Cinema Group is the market leader in Sweden, Finland, Estonia, Latvia and Lithuania, and second in Norway. Forum Cinemas operates Coca-Cola Plaza multiplex in Tallinn and Ekraan in Tartu.
AMC Theatres is majority-owned by the Chinese business tycoon Wang Jianlin’s Wanda Group. The deal requires approval from the European Commission.