Cases & Deals

Cinema City International acquired Israel Theaters

Client(s) Cinema City International NV

Jones Day advised Cinema City International N.V. in its acquisition of Israel Theaters Real Estate BV ("SPC"), an indirect subsidiary of Israel Theaters Ltd., for a purchase price of €33.1 million (US$43.6 million). Cinema City will also assume debts of the acquired company for an aggregate amount of €110.7 million (US$145.9 million), making the total value of the acquired assets €143.8 (US$189.5 million), comprising all of the group's real estate assets across Bulgaria, Israel, and Poland.

At the same time, Jones Day also advised Cinema City on its new club bank financing agreement with a consortium of banks composed of BZ WBK, HSBC, and ING Bank Slaski for a total of €210 million (US$276.8 million).