Kinepolis sells Belgian Utopolis cinemas to UGC

| Inside information

On 30 September 2016, Kinepolis Group sold the four Belgian Utopolis cinemas in Aarschot, Lommel, Mechelen, and Turnhout to the French group UGC.

On 9 November 2015, Kinepolis Group reached an agreement with the shareholders of Utopia SA for the takeover of the Utopolis group. The takeover of the cinemas in Belgium remained subject to the approval of the Belgian Competition Authority (BCA).

On 25 March 2016, the BCA approved the acquisition of the Belgian Utopolis cinemas on the condition that the complexes in Mechelen and Aarschot were resold with a view to their further exploitation. Following this decision, on 14 April 2016, Kinepolis Group took over the Belgian Utopolis cinemas. Since then, these cinemas have continued to operate in accordance with the conditions imposed by the BCA. Kinepolis then opted to sell all Belgian Utopolis activities taking into account the conditions imposed by the BCA and the interest shown by potential buyers. The sale of the four Belgian Utopolis complexes to UGC has an enterprise value of 36.2 million euros.

 

Eddy Duquenne, CEO of Kinepolis Group: 'It's no secret that we would have preferred to add the four Belgian cinemas to our network, but I am sure that Utopolis Aarschot, Lommel, Mechelen, and Turnhout will enjoy a promising future under the auspices of UGC. I wish them every success in that regard.'

 

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 58 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 Digital Cinemas, Kinepolis also operates 40 cinemas in Canada and 10 in the US.
 
In total, Kinepolis Group currently operates 108 cinemas worldwide, with a total of 1,097 screens and almost 200,000 seats. Kinepolis’ employees are all committed to giving millions of visitors an unforgettable movie experience.

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Contact

A. Van Troos,
Corporate
Communication Manager

Kinepolis Group nv
Schelde 1
Moutstraat 132-146
B - 9000 Gent

E: pressoffice@kinepolis.com
T: +32 9 241 00 16

Contact

Kinepolis Group NV
Schelde 1
Moutstraat 132-146
B-9000 Gent

+32 9 241 00 00