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Eversheds advises Empire Cinema Group on £94m sale of five cinemas to Cineworld

  • Global
  • United Kingdom

    02-08-2016

    Eversheds has advised Empire Cinema Group (Empire) on its £94m sale of five cinemas to Cineworld Group plc, including the iconic Empire Leicester Square, and its acquisition of the Haymarket Cinema in London’s West End.

    Cineworld, one of the leading cinema groups in Europe, purchased the nine-screen Empire Leicester Square multiplex, a London venue often used for international film premiers; an 18-screen multiplex in Basildon; a 17-screen multiplex in Hemel Hempstead; a 16-screen multiplex in Poole; and a four-screen cinema in Bromley.

    The transaction is valued at £94,500,000 and includes Cineworld transferring the Haymarket Cinema in London’s West End to Empire.

    Corporate partners Stephen Nash and Alex Hand led the Eversheds team, with assistance from corporate associate Lee Harris. Real estate advice was provided by Eversheds partner David Emberson and legal director Dave Newstone. The transaction is due to complete by the end of August 2016.

    Stephen Nash said:

    “This was a well-considered commercial move by our clients, Empire Cinema Group. We’re very pleased to have been able to support them on this deal and look forward to supporting them on further transactions in the future.”

    Justin Ribbons, CEO of Empire, said:

    "The quality of the technical legal advice and level of commercial awareness that Stephen and his team brought to this deal were invaluable. Eversheds continues to invest a great deal of time and effort getting under the skin of our business and because of this, understands the direction we want to head. We look forward to continuing our work with them.”

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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