BC Partners has seen a £1.1bn bid for UK cinema group Odeon rejected by owner Terra Firma, according to news reports.
In April of this year, Terra Firma was reported to have put the cinema chain up for sale following a number of approaches from private equity firms.
BC Partners lost out in the bidding for rival chain Vue, which was acquired by Doughty Hanson in November last year.
The private equity arm of Canadian pension fund OMERS also lost out in the bidding for Vue, and may emerge as a bidder for Odeon & UCI.
The company owns over 200 cinemas and 1,850 across the UK and Europe, posting EBITDA of £80m (€90.7m) in 2009. Between them, Odeon & UCI, Cineworld and Vue control 70 per cent of the UK cinema market.
Cinema ticket sales have remained strong in the face of the recession, with admissions up six per cent in 2009 and box office revenues increasing by nearly double that, driven by the trend for 3D movies, for which cinemas charge more per ticket than a regular film, and measures such as over-18s only screenings and luxury seating.
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