Bonnier and Ratos create the Nordic region's leading cinema business
This information is disclosed in accordance with the Securities Market Act, the
Financial Instruments Trading Act or requirements in the exchange rules.
Agreements have been signed regarding a merger of SF Bio and Finnkino that
together will form the Nordic region's largest cinema group. The new business
will be owned 60 percent by Ratos and 40 percent by Bonnier.
SF Bio and Finnkino are leaders in their respective markets and the two
companies will continue under their current names. The new business will have
operations in Sweden, Finland, Norway, Estonia, Latvia and Lithuania.
Owners Ratos and Bonnier will support the new cinema group's long-term growth
ambitions in current and new markets.
"This deal is the best possible for Bonnier," says Jonas Bonnier, CEO for
Bonnier AB. "We will be part-owner in a new cinema business that has big growth
possibilities. For Bonnier, this is an offensive move and we're incredibly
enthusiastic about the future. Particularly exciting is that we will have Ratos
as a partner. Bonnier's long-term engagement in the film industry will continue
as we start an exciting phase where the new cinema group can take both a leading
position as the industry undergoes change and continue to promote a broad, local
selection of films."
"Ratos and Bonnier are a very strong owner combination for the new cinema group,
with a focus on the long term, deep knowledge of the industry and financial
strength," says Susanna Campbell, CEO for Ratos. "We're building the region's
biggest cinema group where strong local brands combine to be even more
competitive and therefore ensure a continued attractive selection of films in
the Nordic and Baltic regions."
"The new business will have a dream position in the European cinema market,"
says Jan Bernhardsson, CEO for SF Bio and the new cinema group. "Both SF Bio and
Finnkino are growing profitably today. Together, we gain the power to invest
further so we can offer moviegoers a good selection of films and the best
possible cinema experience."
The enterprise value for 100 percent of the company amounts to approximately SEK
3 billion. The new company will have sales of approximately SEK 2.6 billion,
with an operating profit (EBITA) of approximately SEK 360 million. The
acquisition consists of a merger of SF Bio and Finnkino and includes no capital
from Bonnier or initially from Ratos.
SF Bio is the biggest cinema group in Sweden and has movie theaters as well in
Norway. In total, SF Bio has 43 cinemas with 282 screens and 38,000 seats.
Finnkino Oy is the largest cinema operator in Finland and the Baltic states with
24 cinemas, 158 screens and 27,000 seats. It also distributes films and DVDs.
SF Anytime, which today is part of SF Bio, is not part of the merger.
The deal is dependent on approval by the relevant competition authorities and is
expected to be completed at the end of April 2013.
Press conference today at 10 a.m.
A press conference will be held today, 18 March, at 10 a.m. at Biograf
Rigoletto, Kungsgatan 16, Stockholm. Ratos's CEO Susanna Campbell, Bonnier's CEO
Jonas Bonnier and Jan Bernhardsson, CEO of SF Bio and the new group, will
participate in the press conference.
For further information contact:
Susanna Campbell, CEO Ratos, tel. +46 733 80 22 63
Jonas Bonnier, CEO Bonnier AB, tel. +46 8 736 40 00
Jan Bernhardsson, CEO SF Bio and the new cinema group, tel. +46 8 680 36 47
Emma Rheborg, Director of Information and IR, Ratos, tel. +46 733 80 22 63
Bodil Ericsson Torp, VP Communications & Human Development, Bonnier AB, Tel.
+46 70 497 63 66
About Ratos
Ratos is a private equity conglomerate. The company's mission is to maximise
shareholder value over time through the professional, active and responsible
exercise of its ownership role in primarily medium to large unlisted Nordic
companies. Ratos's holdings include AH Industries, Arcus-Gruppen, Biolin
Scientific, Bisnode, DIAB, Euromaint, Finnkino, GS-Hydro, Hafa Bathroom Group,
HL Display, Inwido, Jøtul, KVD Kvarndammen, Mobile Climate Control and SB
Seating. Ratos is listed on Nasdaq OMX Stockholm and market capitalisation
amounts to approximately SEK 21 billion.
About Bonnier
Bonnier is an international media group active in television, newspapers,
magazines, movies and cinemas, books and digital media. With a base in the
Nordic region and substantial operations in the U.S., Germany, the U.K. and
Eastern Europe, Bonnier has businesses in 17 countries worldwide and employs
over 10,000 people. A publisher of high-quality media products since 1804,
Bonnier stands for entrepreneurship and has always combined a genuine commitment
to freedom of speech with a sense for business.