Last Updated: December 7, 2004 07:29am ET

Blackstone Buys Cinema Chain for $390M

By Anita Howarth

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 second-largest cinema chain in the UK, since Blackstone will be able to combine the UGC business with Cine-UK acquired earlier this year.

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