Kinepolis : Belgian Competition Authority partly approves takeover of Belgian Utopolis cinemas
March 25, 2016 at 10:31 am EDT
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25 March 2016
On 25 March 2016, the Competition Board of the Belgian Competition Authority (BMA) approved the takeover of the Belgian Utopolis cinema complexes by Kinepolis, on condition that the Utopolis cinemas in Mechelen and Aarschot are sold, with a view to their continuing operation. Following the decision, in pursuance of the agreement concluded with the shareholders of Utopia SA on 9 November 2015, Kinepolis is now able to acquire the Utopolis cinemas in Turnhout and Lommel.
In addition to the structural commitments described above, Kinepolis has proposed and the BMA has accepted a number of undertakings in conduct for a period of three years. These measures regulating conduct satisfy the competition concerns held by the BMA and include not closing the cinema complexes in Turnhout and Lommel during that period, continuing the existing partnerships relating to cinema vouchers and monitoring the satisfaction of visitors in respect of value for money at the introduction of the Kinepolis experience concepts.
Eddy Duquenne, CEO Kinepolis Group: 'I am pleased that that there is finally clarity following a slow and difficult procedure. In consultation with the BMA, we will now organise our disinvestments in such a way that the future and optimum continuity of the cinemas affected remain guaranteed, and that clarity will come for the employees quickly.'
On 9 November 2015, Kinepolis already acquired all Utopolis activities in Luxemburg, the Netherlands, and France, 9 cinemas in total. The acquisition of the Belgian operations by Kinepolis was subject to the approval of the BMA. A transaction of this size would not require a notification duty. However, at its establishment in 1997, specific restrictions were imposed on Kinepolis with regard to its further development on the Belgian market. These restrictions are still in force today.
Kinepolis Group was formed in 1997 as a result of the merger of two family cinema groups and was listed on the stock exchange in 1998. Kinepolis offers an innovative cinema concept which serves as a pioneering model within the industry. Kinepolis has a chain of 46 cinemas spread across Belgium, the Netherlands, France, Spain, Luxembourg, Switzerland and Poland. Apart from its cinema activities, the Group also operates in film distribution, event organization, screen publicity and property management. 2,300 employees are committed to providing millions of cinema visitors an unforgettable movie experience.
Kinepolis Group NV issued this content on 25 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 March 2016 14:30:26 UTC
Original Document: https://corporate.kinepolis.com/en/press-releases/kinepolis-group-belgian-competition-authority-partly-approves-takeover-belgian-utopolis-cinemas
Kinepolis Group NV specializes in operating multiplex movie theaters. The activity is organized around 3 areas:
- operation of cinema multiplexes: sale of tickets, confectionery, and beverages, sale of advertising space, event organization, etc. At the end of 2023, the group has a network of 109 cinemas in Belgium (11), Canada (36), the Netherlands (19), France (18), the United States (10), Spain (10), Luxembourg (3), in Switzerland and Poland;
- leasing of commercial spaces: restaurants, outlets, etc.;
- other: cinematographic distribution and production, and technical services (primarily technical assistance and projector maintenance; Decatron).
KINEPOLIS GROUP NV 
