Vue Cinemas considers a sale

Mon, 10 Jul 2017

By Catherine Deshayes

Vue, the sixth largest cinema chain in the world, has plans to put itself on the market for buyers.

The company, which has seen incredible growth since it was originally set up less than twenty years ago, last changed hands four years ago when it was bought for £935 million.

Chief executive and founder, Tim Richards, said that as consolidation in the sector continued, Vue was talking to global rivals about a possible trade sale, The Times has reported.

"We are truly the last port of call if an international operator wants to come into Europe. There's a huge amount of interest from all corners. There are international distributors in North America, Korea, Japan, Mexico and Australia. These are groups that we know and we would want to work with.

"What trade purchasers have seen is that we have the highest-quality assets internationally."

The company has not appointed advisors but is in discussions with banks. As well as seeking an overseas buyer, Mr Richards has not ruled out the possibility of an initial public offering.

"We have delivered constant returns for our shareholders for 20 years, so for a public listing it's very attractive to investors," he said.

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