Kinepolis is pleased to announce that the Commercial Court has declared the application by Tentoonstellingspark van Brussel (TPB), the operator of Brussels Expo, seeking cancellation of the operating agreement with Kinepolis Brussel, to be unfounded.
TPB issued a writ against Kinepolis at the start of 2011. The exhibition park sought to terminate the operating agreement as regards the Kinepolis Brussel activities at the Heizel site, even though Kinepolis has an agreement that will run until at least 2025. TPB mainly complained about the organisation of business events by Kinepolis at the Heizel site, which TPB considered constituted prohibited competition with its own activities.
The court has now rejected this allegation, given that the activities of Kinepolis are entirely in conformity with the operation of a modern cinema complex.
Kinepolis has always had confidence in the judicial process, and is therefore delighted that the Commercial Court has confirmed that it has always implemented the agreement in good faith, as a result of which it can continue its operations in Brussels in the interests of all film lovers, its employees and its business activities.
Kinepolis Group: Court finds in favour of Kinepolis in case against TPB
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Financial
About Kinepolis
Kinepolis Group NV was formed in 1997 as a result of the merger of two family-run cinema groups and was listed on the stock exchange in 1998. Kinepolis offers an innovative cinema concept which serves as a pioneering model within the industry. In addition to its cinema business, the Group is also active in film distribution, event organization, screen publicity and property management.
In Europe, Kinepolis Group NV has 63 cinemas spread across Belgium, the Netherlands, France, Spain, Luxembourg, Switzerland and Poland. Since the acquisition of Canadian movie theatre group Landmark Cinemas and American movie theatre group MJR Theatres, Kinepolis also operates 36 cinemas in Canada and 10 in the US.
In total, Kinepolis Group currently operates 108 cinemas worldwide, with a total of 1,137 screens and more than 200,000 seats. Kinepolis’ employees are all committed to giving millions of visitors an unforgettable movie experience. More information on www.kinepolis.com/corporate.
Contact
A. Van Troos,
Corporate
Communication Manager
Kinepolis Group nv
The Office I
Moutstraat 132-146
B - 9000 Gent