Today (27/01/09) Kinepolis Group NV and H+Z Beteiligungs GmbH group have entered into a sale and transfer agreement pursuant to which H+Z Beteiligungs GmbH group is to acquire Kinepolis Group NV's minority interest of 12.61% (representing 3 million shares) in the German cinema group CinemaxX AG.
The shares will be transferred to H+Z Beteiligungs GmbH group in three equal tranches, subject to the payment of the purchase price, which will be due in three instalments on January 30, April 30 and July 31, 2009.
For Kinepolis the transaction will generate a capital gain in the amount of the purchase price, as the interest was written off in 2001.
The minority interest in CinemaxX AG is not core to the Kinepolis activities. Kinepolis deems the timing to be right to sell its CinemaxX shares.
Kinepolis Group sells minority interest in CinemaxX
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