x

Welcome to MI6 Headquarters

This is the world's most visited unofficial James Bond 007 website with daily updates, news & analysis of all things 007 and an extensive encyclopaedia. Tap into Ian Fleming's spy from Sean Connery to Daniel Craig with our expert online coverage and a rich, colour print magazine dedicated to spies.

Learn More About MI6 & James Bond →

007's royal premiere hotspot, Odeon cinema, may be up for sale

02-Apr-2011 • Bond News

The U.K.’s largest movie theater circuit, Odeon & UCI Cinemas could be sold as speculation mounts that financier Guy Hands, who heads up private equity company Terra Firma, is mulling options to offload the chain -- reports THR

Hands, who is a familiar name in the financial pages, is reported to be considering his options for the 200 cinema and 1,850 screen-strong chain.

According to initial reports in the Financial Times, Bank of America Merrill Lynch is expected to run the auction if one goes ahead, but it is understood that Hands has made no definitive decision yet.

Another reported option on the table includes refinancing the business with new debt of about £600 million ($960.8 million) and holding on to the company.

The Odeon/UCI estate includes the flagship Odeon Leicester Square cinema which has played host to myriad world premieres including Harry Potter And The Deathly Hallows Part 1and Royal galas such as James Bond adventure Quantum Of Solace.

Odeon & UCI posted earnings before interest, tax, depreciation and amortisation of £80 million ($128 million) in 2009.

The chain leads the U.K. by market share with 23 percent, followed by Cineworld with 21 percent and Vue Entertainment with 17 percent.

Discuss this news here...

Advertising

Open in a new window/tab