On 25 March 2016, the Competition Board of the Belgian Competition Authority (BMA) approved the takeover of the Belgian Utopolis cinema complexes by Kinepolis, on condition that the Utopolis cinemas in Mechelen and Aarschot are sold, with a view to their continuing operation. Following the decision, in pursuance of the agreement concluded with the shareholders of Utopia SA on 9 November 2015, Kinepolis is now able to acquire the Utopolis cinemas in Turnhout and Lommel.
In addition to the structural commitments described above, Kinepolis has proposed and the BMA has accepted a number of undertakings in conduct for a period of three years. These measures regulating conduct satisfy the competition concerns held by the BMA and include not closing the cinema complexes in Turnhout and Lommel during that period, continuing the existing partnerships relating to cinema vouchers and monitoring the satisfaction of visitors in respect of value for money at the introduction of the Kinepolis experience concepts.
Eddy Duquenne, CEO Kinepolis Group: "I am pleased that that there is finally clarity following a slow and difficult procedure. In consultation with the BMA, we will now organise our disinvestments in such a way that the future and optimum continuity of the cinemas affected remain guaranteed, and that clarity will come for the employees quickly."
On 9 November 2015, Kinepolis already acquired all Utopolis activities in Luxemburg, the Netherlands, and France, 9 cinemas in total. The acquisition of the Belgian operations by Kinepolis was subject to the approval of the BMA. A transaction of this size would not require a notification duty. However, at its establishment in 1997, specific restrictions were imposed on Kinepolis with regard to its further development on the Belgian market. These restrictions are still in force today.