The Carlyle Group aquires Loews Cineplex $1.5B
 

# 2004-53pc (issued by portfolio company)
Loews Cineplex Entertainment Announces Close of Acquisition by Bain Capital, The Carlyle Group and Spectrum Equity Investors

New York, New York -- Loews Cineplex Entertainment Corporation announced today the completion of the acquisition of the Company for US$1.5 billion by a corporation formed by Bain Capital, The Carlyle Group, and Spectrum Equity Investors. The corporation announced an agreement to purchase Loews from Onex Corporation and Oaktree Capital Management, LLC on June 21, 2004.

Loews Cineplex Entertainment Corporation (www.enjoytheshow.com) is the third largest movie theater chain in the world, with 200 theaters and 2,176 screens worldwide. The assets acquired include Loews' operations in the U.S., Grupo Cinemex's operations in Mexico, and Loews' 50% interests in the operations of Megabox Cineplex of South Korea and Yelmo Cineplex of Spain. The company operates under the names of Loews Theatres, Cineplex Odeon, Star Theatres and Magic Johnson Theatres in the United States, as well as Cinemex in Mexico, Megabox in South Korea and Yelmo Cineplex in Spain.

For more information:
John McCauley
Senior Vice President, Marketing
Loews Cineplex Entertainment
646-521-6142