Swedish cinema assets acquisition 'in prospect' for 2013
A Swedish media company is said to be preparing to divest a cinema chain it owns.
Posted by Edel Quinn
Firms interested in acquiring a European cinema chain in 2013 may wish to seek the services of merger and acquisition consultants after it was revealed Swedish media group Bonnier plans to sell its SF cinema chain.
Sources familiar with the situation told Reuters the firm has engaged the service of Nordic bank Nordea to advise it on a deal worth around 2 billion crowns (£188 million).
The news provider said there may be a number of potential buyers, particularly private equity firms who have already indicated an interest in the sector like Ratos, a Swedish firm that owns Finnkino, the largest cinema chain in Finland and the Baltic states.
Terra Firma, Doughty Hanson and Blackstone were also named by Reuters as possible bidders, while neither Bonnier or Nordea were willing to comment on the topic.
Recent acquisitions by private equity firms in Europe include the joint purchase by TPG alongside Goldman Sachs of Wigan-based crane hire firm Ainscough.