Blackstone Buys Cinema Chain for $390M

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LONDON-US venture fund Blackstone has paid euro 290 million ($389.5 million) for the UK and Irish assets of French cinema group UGC. The deal creates the country’s second-largest cinema chain. UGC operates 408 screens in 42 cinemas. Earlier this year Blackstone acquired Cine-UK, which has 37 cinemas with just under 400 screens, for euro 173.8 million ($233.6 million).