Tuesday, February 23, 2021

New owner of “Forum Cinemas” business in Latvia and Lithuania – in Latvia


However, the Estonian investment company MM Grupp will acquire the business of the Baltic cinema operator Forum Cinemas in Latvia and Lithuania, the company said in a statement.

Last week, the Estonian Competition Council did not approve a deal in which MM Grupp intended to acquire the entire Baltic business of Forum Cinemas.

MM Grupp points out that thus Forum Cinemas will not acquire the Estonian business, but the transaction for the acquisition of the Latvian and Lithuanian businesses remains in force.

Kristela Volvera, a member of the board of MM Grupp, does not consider this to be a significant obstacle, as the company’s interest in this transaction is mainly related to the acquisition of the Lithuanian business.

Forum Cinemas has one cinema in Latvia, three in Estonia and five in Lithuania. In the autumn of 2019, the Estonian company Forum Cinemas completed the addition of cinema operators of the same name in Latvia and Lithuania, and since then has been working in the Baltic States as a single company with its head office in Tallinn.

Forum Cinemas is owned by the Finnish company Finnkino, owned by the British Odeon Cinemas Group, which in turn is owned by the US AMC Entertainment Holdings, whose largest owners are the Chinese Wanda Group (38%) and the US investment company Silver Lake Partners “(28%).

MM Grupp, a holding company controlled by Estonian businessman Margus Linnamäe, owns a large portfolio of companies in the Baltic States. The information agency LETA is part of an international media group, the shareholder of which is “MM Grupp”.



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