Cinema "Cinema Park" Buying "Formula Cinema"

The largest Russian film "Cinema Park" completely redeems the "Formula of Cinema". The transaction will soon be closed, writes the newspaper Vedomosti with reference to the general director of Sinma Park Goarik Kotanjyan.

"Sinema Park" belongs to Said Kerimov, the son of a billionaire Suleiman Kerimov. About 75% of the “Cinema Formula” shares belongs to A1, the Investment unit of Alfa Group, the rest is for one of the founders of the network of Vladimir Zakharov.

According to Kotojan, Sinema Park will completely redeem the “cinema formula” from A1 and Zakharov, then the networks will be combined into one operating company. As a result, according to the calculations of the newspaper, Kerimov Jr. will own every seventh cinema of Russia.

However, while both networks continue to work under the previous brands, cinema signs will not change. “Conducting a crisis to the crisis is too expensive,” Kotajyan said. She did not disclose details of the purchase.

A source of the newspaper said that Sinema Park will pay about 5 billion rubles for the “Cinema Formula”. Another source claims that the amount of the transaction is much larger, but does not call its size. In 2015, it recalls the publication, market participants said that the owners of the Formula Kino want to sell it for about $ 250 million.

Said Kerimov is a third -year student of MGIMO, writes the Russian edition of Forbes magazine. In November 2014, it became known that he was buying a network of cinemas "Sinema Park" from Interros Vladimir Potanin. The acquaintance of his father said that Kerimov Jr. had had small investments in other projects before, but did not specify the details.