PE-backed Vue prepares bid for Nordic Cinema Group: Reuters

(Reuters) – British cinema operator Vue Entertainment is preparing a bid for Nordic peer Nordic Cinema Group, majority-owned by listed Swedish private equity firm Ratos (RATOb.ST), The Sunday Times reported without naming sources.

Nordic Cinema had sales of 2.6 billion Swedish crowns (US$312 million) and earnings before interest, tax and amortization (EBITA) of 366 million last year.

Citing analysts, The Sunday Times said Nordic Cinema Group could be worth between 350 and 400 million pounds (US$617 million).

Ratos declined to comment on the report. Vue, owned by Canadian asset managers OMERS Private Equity and Alberta Investment Management Corp, did not immediately respond to a request for comment.

In late 2014, Vue agreed to acquire The Space Entertainment S.p.A., a cinema chain in Italy.

(Reporting by Sven Nordenstam; editing by Niklas Pollard)

(This story has been edited by Kirk Falconer, editor of peHUB Canada)

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