A&O and HSF in front row for Vue Cinemas purchase of German rival
The deal will mark cinema chain Vue's third acquisition of the year following purchases in Poland and Ireland
October 23, 2018 at 06:43 AM
2 minute read
Allen & Overy (A&O) and Herbert Smith Freehills (HSF) have picked up roles on London-headquarted cinema chain Vue's purchase of German cinema group Cinestar for €221.8m (£196m).
Cinestar, which is owned by Australian-listed hotel and leisure company Event Hospitality & Entertainment (EVT), is Vue's third acquisition of 2018 after the company bought Cinema3D in Poland and Showtime Cinemas in Ireland.
A&O is advising Vue with a team led out of Frankfurt by corporate partner Michiel Huizinga and including Hamburg real estate partner Christian Hilmes and London finance partner Vanessa Xu.
HSF is advising EVT, with the firm's Germany managing partner and corporate lawyer Nico Abel fronting the team.
Founder and CEO of Vue International Tim Richards said: "This acquisition is our third international acquisition this year and further reinforces our commitment to international expansion. Germany is an extremely important cinema market and is consistently in the top 10 box office markets in the world."
In 2013, A&O took a role on another Vue deal when it was sold by private equity firm Doughty Hanson to two Canadian investor groups. A&O represented one of the investor groups, OMERS Private Equity. Ashurst, Debevoise & Plimpton and Skadden Arps Slate Meagher & Flom also advised on the £935m deal, with Debevoise leading for Vue.
Other recent deals in the cinema industry include UK cinema operator Cineworld on its $3.6 bn (£2.7bn) takeover of US rival Regal Entertainment in November 2017. Slaughters advised Cineworld and Macfarlanes advised Regal on the transaction, while US firm Paul Hastings advised Regal's financial adviser Morgan Stanley.
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