Media: VTB is in talks to buy the Karo cinema chain

VTB is in talks with UFG Private Equity Group and entrepreneur Paul Heth about buying their stakes in the Karo cinema chain. This was reported by Kommersant with reference to the sources.

At the moment, there is no official data on the details of the deal, the parties refused to comment.

According to some reports, the bank may act as an intermediary, buying up the asset in the interests of any company.

Recall that in the network "Karo" now has 33 cinemas with 266 screens. According to Nevafilm Research, the company ranks second among the cinema networks in terms of the number of their own cinema halls with a share of 4.8%. The chain is controlled by a consortium of investors consisting of UFG Private Equity, the Russian Direct Investment Fund (RDIF) and entrepreneur Paul Heth. UFG's share is about 60% of all assets.

It is worth noting that VTB is a creditor of "Karo", in August the bank opened new six-year lines to the company for 4.1 billion rubles. The money will be used to develop and open new cinemas in Moscow and the regions.

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Author: Maria Buzanakova