(Alliance News) - Lucisano Media Group Spa on Friday announced that its subsidiary Italian International Cinema Srl, which is active in the operation of multiplex cinemas with a view to simplifying the group's structure, has finalized the purchase of 50 percent of the shares of Goofwind Srl, already owned by IIC in an identical percentage, thus becoming its sole shareholder.

Goodwind operated the Gaveli multiplex in Benevento with 6 screens until June 19, 2023 when, in the face of the many management complexities that had occurred and the no longer persistent economic viability of the operation, the lease of the multiplex was permanently terminated, the company explained in a note.

The purchase, of an amount not significant from an economic-equity standpoint, took place at a price substantially in line with the respective fraction of the investee's equity as of Dec. 31, 2023.

Lucisano Media Group trades in the green by 0.8 percent at EUR1.30 per share.

By Claudia Cavaliere, Alliance News reporter

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