In a deal valued at SEK 4.7 billion, the British equity group Bridgepoint has taken over the stakes controlled since 2013 by Swedish group Ratos. Bonnier Holding continues to jointly run the company with a 30% ownership.
Ratos said in a statement that it will receive an exit gain of around SEK 900 million from the sale and approximately SEK 1.7 billion for its shares.
Mikael Lövgren, chairman of Bridgepoint in the Nordic region said: “We believe in the future of cinema and together with the strong management team at NCG we are looking forward to continue to develop the company. We believe there is scope to further enrich the whole cinema experience, from the venue in itself, sound, seats and availability to food and drinks. We also see potential for NCG to accelerate its growth in the region and in adjacent countries at a time when the popularity of film and cinema remains a buoyant part of the entertainment industry”.
Nordic Cinema Group was formed in 2013 through the merger of Bonnier-owned SF Bio and Ratos-owned Finnkino. The group runs a total of 66 cinemas and 444 screens in 47 large and medium-sized cities in Finland, Sweden, Norway and the Baltic states. The cinema chain is number one in Finland via Finnkino, Sweden through SF Bio and second in Norway via SF Kino AS.
The sale is subject to approval from the relevant authorities.