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UK: Cinema dominator braces for OFT scrutiny of $73M deal

By  |  April 29, 2013
UK: Cinema dominator braces for OFT scrutiny of $73M deal

The UK’s leading cinema operator Cineworld is reportedly bracing for the Office of Fair Trading to formally initiate a probe into the giant’s buyout of the UK’s largest art-house chain City Screen Group. The buyout of City Screen, which trades as Picturehouse, occurred for nearly $73 million. According to unnamed sources, the company is anticipating the referral of the case from the OFT to the Competition Commission; analysts have noted, however, that an investigation could be avoided if Cineworld agrees to divest some of Picturehouse’s sites. Those sources said that those divestments were unlikely.

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