PRINT THIS PAGE Blackstone close to buying UK cinema chain in £120m deal24/09/2004. Source: AltAssets. 
 US Blackstone Group is close to buying the UK cinema operator Cine-UK for around £120m. The move signals an acceleration in the shake-up of the UK cinema industry.
Cine-UK also attracted interest from Terra Firma, Legal and General Ventures and Providence Equity, according to the Financial Times.
News of the transaction comes just weeks after Terra Firma announced the acquisition of the Odeon and United Cinemas International chains for nearly £600m. Blackstone was also interested in Odeon.
The bulk of the UK cinema industry is now in the hands of financial owners, who are attracted to the industry's stable cash flows and real estate value.
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