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PE shops back U.K. cinema deal.
Byline: Kelly Holman
Get out the popcorn. London-based SBC International Cinemas announced Tuesday, May 13, that it had acquired U.K. cinema chain Warner Village in a deal valued at about [pounds sterling]211 million ($340 million), according to buyout market sources.
Los Angeles-based Clarity Partners and London-based Legal & General Ventures, the private equity arm of Legal & General Group plc, are joining SBC's majority shareholder, Boston Ventures, in investing undisclosed amounts of equity to support the transaction.
As a result of the deal, SBC has changed its name to Vue Entertainment Holdings Ltd. The acquisition of the U.K. chain adds 36 …
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