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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Cineworld Group plc    CINE   GB00B15FWH70

CINEWORLD GROUP PLC

(CINE)
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Real-time Quote. Real-time CHI-X - 06/20 11:30:00 am
259.15 GBp   -2.19%
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Cineworld : to sell, leaseback some U.S. cinemas

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05/15/2019 | 03:09am EDT

(Reuters) - British cinema operator Cineworld Group Plc said on Wednesday it signed a deal to sell and lease back U.S.-based multi-screen cinemas to units of Realty Income Corp.

Cineworld will sell 17 cinemas for a cash consideration of $286.3 million (222 million pounds) and lease them back under 15-year leases.

The company, which had bought U.S. cinema chain Regal Entertainment for $3.6 billion, said it was also in talks with a separate party for a sale and leaseback deal involving 18 multi-screen cinemas based in the United States.

The terms of the deal will be similar to Cineworld's deal with U.S.-based REIT Realty Income.

Cineworld's board will consider returning future proceeds in the form of a special dividend, once the deal is completed.

The company said its plans to integrate Regal were on track.

Separately, the cinema operator said its total revenue fell 9.4 percent on a pro-forma basis for the period between Jan. 1, 2019 and May 12, 2019.

(Reporting by Tanvi Mehta in Bengaluru; Editing by Shounak Dasgupta and Rashmi Aich)

Stocks mentioned in the article
ChangeLast1st jan.
CINEWORLD GROUP PLC -2.44% 258.5 Delayed Quote.6.76%
REALTY INCOME CORPORATION 0.10% 73.29 Delayed Quote.16.15%
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Financials ($)
Sales 2019 4 870 M
EBIT 2019 760 M
Net income 2019 439 M
Debt 2019 3 493 M
Yield 2019 5,15%
P/E ratio 2019 11,15
P/E ratio 2020 10,16
EV / Sales 2019 1,71x
EV / Sales 2020 1,59x
Capitalization 4 841 M
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Technical analysis trends CINEWORLD GROUP PLC
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 4,90 $
Spread / Average Target 38%
EPS Revisions
Managers
NameTitle
Moshe Joseph Greidinger Chief Executive Officer & Non-Executive Director
Anthony Herbert Bloom Chairman
Matthew Eyre Chief Operating Officer
Nisan Cohen Chief Financial Officer & Executive Director
Eric Hartley Senat Senior Independent Non-Executive Director
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