Brian Kenety|24.01.2011

Erste upgrades CCI on Palace Cinema deal

Erste Bank has upgraded its recommendation for Warsaw-listed Cinema City International (CCI) from ‘Hold’ to ‘Accumulate’ and upped its target price by 16 percent in light of CCI’s recent purchase of rival operator Palace Cinema’s operations in Central Europe for €28 million.

Companies|Media & PR
Brian Kenety|20.01.2011

Warsaw-listed Cinema City buys Palace Cinemas in Central Europe for €28 mln

Warsaw-listed group Cinema City International (CCI) has acquired the Palace Cinemas’ chain, comprising 141 screens in 15 multiplexes in Central Europe, for €28 million. The deal strengthens CCI’s position in the Hungarian and Czech markets and adds Slovakia to its countries of operation, the company announced Thursday.