Kinepolis completes takeover process of Utopolis group

Regulatory release

3 October 2016, 7 a.m.

With the sale of the four Belgian Utopolis cinemas on 30 September 2016, Kinepolis Group has completed the takeover process of the Utopolis group (Utopia SA).

On 9 November 2015, Kinepolis Group reached an agreement with the shareholders of Utopia SA for the takeover of the Utopolis group for a total takeover sum of 66 million euros in terms of enterprise value.

The takeover included five cinemas in the Netherlands (Almere, Den Helder, Oss, Zoetermeer, and Emmen), three in the Grand Duchy of Luxembourg (two in Luxembourg City and one in Esch-sur-Alzette), one in France (Longwy), and four in Belgium. The nine complexes outside Belgium have been taken over immediately.

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About Kinepolis

Kinepolis Group NV was formed in 1997 as a result of the merger of two family 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. Kinepolis Group NV has 47 cinemas spread across Belgium, the Netherlands, France, Spain, Luxembourg, Switzerland and Poland. In addition to its cinema business, the Group is also active in film distribution, event organization, screen publicity and property management. 2,300 employees are committed each day to providing millions of cinema visitors an unforgettable movie experience.

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Source: Kinepolis Group via Globenewswire