Announced
Financials
Sources
Tags
cinemas
Pending
Single Bidder
Acquisition
Private
movie theaters
Entertainment
Friendly
Private Equity
Cross Border
Estonia
Latvia
Lithuania
Majority
Synopsis
UP Invest, an investment firm, agreed to acquire Forum's movie businesses in Estonia, Latvia and Lithuania from Finnkino, a Finnish film distributor and the biggest cinema chain in Finland, for £58m ($77m). "The spread of Covid-19 means times are difficult for the movie theater industry all over the world, with consolidation a necessity. That said, Forum Cinemas is a very well-managed company throughout the Baltic countries and we are very happy wit the transaction," Sven Nuutmann, UP Invest Board Member and Executive Manager.
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