The US exhibitor AMC controlled by China’s Wanda Group is on the verge of acquiring Nordic Cinema Group from Bridgepoint and Bonnier Holding. The all-cash transaction estimated at SEK 8,250 million was announcement yesterday. The transaction is conditional upon anti-trust clearance by the European Commission but is expected to be completed before June 30, 2017.

As part of the deal, Bonnier Holding is selling its 30% stake in the company for SEK 1.6 million.
Nordic Cinema Group is the largest theatre operator in the Nordic and Baltic countries, with 68 wholly-owned and 50 partially owned cinemas in Sweden, Finland, Norway and the Baltics, operating under the brands SF Bio, SF Kino, Finnkino and Forum Cinemas. The group was founded in 2013 when Bonnier-owned SF Bio merged with Ratos-owned Finnkino. In 2015, the Swedish group Ratos sold its majority stake to the European private equity group Bridgepoint. 

Nordic Cinema Group is currently number one in market share in Sweden, Finland, in the Baltics, and number two in Norway. Through the transaction with AMC, the group will maintain its base in Stockholm, and all brands will continue to operate under their individual names and the leadership of Jan Bernhardsson. However the entire group will become a subsidiary of London-based Odeon Cinemas, acquired in November 2016 by AMC.

AMC CEO and President Adam Aron said: “We have been impressed with Nordic’s talented leadership team and further believe that their added expertise will be invaluable to us in helping to drive AMC’s progress across Europe. AMC will bring additional efficiencies of scale and innovative strategic initiatives to the Nordic brands.”

Commenting on Bonnier’s overall film strategy, following the sale of the group’s cinema interests, Erik Haegerstrand, CEO, Bonnier Holding said: “For Bonnier, the increased value achieved by the Nordic Cinema Group contributes to our financial strength, and provide more room to manoeuvre in the future. Growth in recent years shows that the cinema industry continues to be strong, and we believe cinemas will remain an important arena for film. Through SF Studios, the Nordic region’s leading production and distribution company, Bonnier will continue to be heavily involved in the Swedish film industry.”

 Once the deal is cleared, AMC will become the largest exhibition chain in the world, operating 1,000 cinemas and 11,000 screens in 15 countries.