Date: 2 months ago   Category: IT & Media

The investor of Caro can become the co-owner of the American film networks Angelika and City Cinemas — Rambler News Service


The investor of Caro can become the co-owner of the American film networks Angelika and City Cinemas
Photo: The Consortium of investors led by the investor and the chairman of the board of directors of the Russian film network "Caro" Paul Heth has sent to RIA of News/maxims of Pancakes the offer about purchase of Reading International (RDI) holding which owns the American film networks Angelika and City Cinemas, the press service of Caro has reported. The sum of the possible transaction taking into account a debt of the company of $595,2 million. "The consortium of investors headed by the founder of the Patton Vision company the chairman of the board of directors of KARO group of companies Paul Heth has sent to the board of directors of the international holding Reading International (RDI) the offer on acquisition of the company" — it is noted in the message of the press service of Caro. The Reading International holding owns the American film networks Angelika and City Cinemas. "The cost of the Reading International company is estimated at $444 million. Together with amount of debt of $151,1 million the total amount of the offer makes about $595,2 million, at that time at the New York Stock Exchange the cost of the company is estimated at $376 million" — Caro's press service has reported. Besides investment holding of Paul Heth the consortium of investors had included direct investment funds of TPG and Madison Dearborn Partners, Santo Domingo Group holding. "The consortium has for the first time proposed purchase of the Reading International company in June, 2016. The initial sum of the offer was $400 million, but the management of Reading International has refused the offer" — it is noted in the message of the company. Paul Heth is the American businessman, the co-owner of Caro network. Also he is the founder of Kinostar movie theater chain which in 2011 has been sold "Cinema to the park".

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