Vue cinemas sold in £935million deal

The cinema chain Vue is sold to a Canadian firm

12:59 11 June 2013

Vue – who have over 140 cinemas across the UK and Europe – has been purchased by OMERS Private Equity and Alberta Investment Management of Canada it has emerged.

 

Doughty Hanson, the private equity firm, sold the chain in a £935million deal.

 

As stated in one report by the BBC, it is thought that OMERS Private Equity and Alberta Investment Management may look at expanding the Vue.

 

The chain was purchased three years ago for less than half of the amount that it has been sold at; having been bought for £450million.

 

It is understood that since then, the chain expanded into Europe.

 

The cinema group stated in 2012 that box office revenues increased by around 3per cent for the UK. However, the attendance figures rose by 0.6per cent in comparison with the year before that.

 

With technology advancing, cinema-goers have been able to watch certain films in 3D.

 

Vue was founded around 10 years ago.