Odeon & UCI is a leading European cinema operator with 242 cinemas. It operates in four major markets: UK, Spain, Italy and Germany; and three smaller markets: Austria, Portugal and Ireland. The deal will see the combination of Odeon & UCI and AMC Theatres create the world’s largest theatre exhibitor, with CEO Paul Donovan and his management team of CCO Ian Shepherd and CFO Mark Way continuing to lead Odeon & UCI.
The transaction is expected to be completed by the end of 2016, subject to approval from the European Commission and its Employee Works forum.
The Osborne Clarke team that advised on the disposal was led by Partner Greg Leyshon, who was assisted by Associate Director Mark Saunders and Tax Partner Michael Bell.
Head of Corporate at Osborne Clarke, Partner Greg Leyshon commented:
“It’s fantastic to have advised a great management team on a high profile international transaction such as this. We look forward to seeing the combination of Odeon & UCI and AMC Theatres make one of the leading cinema operators in the world.”
Private equity firm Terra Firm was advised on legal matters by Gibson, Dunn & Crutcher LLP while corporate finance advice was provided by Goldman Sachs. Pinsent Masons LLP acted for the purchaser, AMC Theatres.