Israel Theatres Takes Over Cinema City International in Bulgaria

By FNE Staff
    Israel Theatres has agreed to buy Cinema City International in Bulgaria (www.cinemacity.bg) for approximately 85m Euros.

    Israel Theatres is the main shareholder of the venture and has now become the owner of Cinema City and its related real estate assets. These include Mall of Ruse where a 10 screen multiplex is schedule to open later this year and Stara Zagora where a seven screen multiplex is planned.

    Israel Theatres have also taken over all of CCI's commitments in Bulgaria including the Plodiv Mall.

    Cinema City International is the largest multiplex theatre operator in Central and Eastern Europe and is actively involved in cinema related advertising and film distribution. The Cinema City group also develops modern shopping mall real estate projects associated with expanding its cinema chain. Cinema City distributes DVD's movies in Hungary, the Czech Republic and Israel.