Sep 12, 2017

Adam Crozier set to chair cinema chain Vue ahead of possible IPO

Adam Crozier, the former ITV chief executive, is set to be appointed as chairman of UK-based cinema chain Vue International, as the company considers a possible sale or initial public offering in the coming months. Vue is owned by two of Canada's largest pension funds - Omers Private Equity and Alberta Investment Management - which acquired the group from UK-based private equity investor Doughty Hanson for £935m in 2013. One person close to the company's leadership said the group was looking for a sale or to launch a stock market listing, which would value the group at at least £1.6bn. Speaking to the Financial Times, Tim Richards, Vue's chief executive and founder, said the company moved for Mr Crozier after deciding it was the "Right time to bring in a high-powered non-executive chair." Mr Crozier said in a statement: "I have watched the development and growth of Vue International with great interest and am excited to be joining the group to play an active role in furthering their future ambitions." Last year, China's Dalian Wanda, which owns the US cinema group, AMC, acquired rival chain Carmike for $1.1bn, as well as UK group Odeon for £921m..

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