(Reuters) – Swedish private equity firm Ratos said on Tuesday it has agreed to sell its stake in Nordic Cinema Group to British peer Bridgepoint in a deal valuing the biggest cinema chain in the Nordic region at 4.7 billion crowns ($546 million).
Nordic Cinema Group, in which Ratos had a 58 percent stake, was widely tipped to be listed on the Stockholm stock exchange this year.
On the back of high stock market valuations, initial public offerings of private companies often reap higher prices than selling to a new owner. The Stockholm stock exchange has seen five IPOs on its main list this year versus three in the same period last year.
Ratos said in a statement it will receive about 1.7 billion crowns for its stake and make an exit gain of around 900 million, the company said in a statement.
Swedish privately owned media group Bonnier, which had a 40 percent stake in the cinema operator prior to the deal, said it would keep a 30 percent stake.