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Topic: Regal Buys Out Great Escape Theatres
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Dominic Espinosa
Phenomenal Film Handler
Posts: 1172
From: California, U.S.A.
Registered: Jan 2004
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posted 12-01-2012 04:33 PM
quote:
Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced that it has completed the acquisition of Great Escape Theatres.
Regal acquired a total of 25 theatres representing 301 screens at a pre-synergy multiple of approximately 5.5 times cash flow for an aggregate purchase price of $91 million in cash. The acquisition of the Great Escape circuit will enhance Regal’s presence in Georgia, Illinois, Indiana, Kentucky, Missouri, Nebraska, Ohio, Pennsylvania, South Carolina, Tennessee and West Virginia. The transaction involved multiple sellers and the aggregate purchase price includes repayment of the sellers’ debt and the assumption of working capital and is subject to customary post-closing adjustments. The sellers will also maintain an interest in the real property associated with seven of the acquired theatres.
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