posted 05-01-2005 01:08 PM                    

quote: From Sunday Times (UK) 01 May 2005

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Big screen changes hands

WITH a bumper summer in prospect for cinemas thanks to the release of blockbusters such as the latest Star Wars film, Vue, one of Britain’s largest cinema chains, operating sites such as the screens at Islington’s N1 centre, has bought smaller rival Ster Century in a deal estimated to be worth close to £50m, writes Matthew Goodman.

The purchase takes Vue, backed by private-equity groups Boston Ventures, Clarity Partners and L&G Ventures, to almost 500 screens across 49 sites. Ster’s seven multiplexes include the highest-grossing cinema complex in Britain and Ireland, at Liffey Valley in Dublin.

Ster was sold by a consortium including the chain’s management and specialist debt provider Hutton Collins. It is the second time it has changed hands in less than a year — last summer the consortium bought the business from Inflexion, a venture-capital group.

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