CJ CGV and other investors $800 million acquisition of Mars Entertainment Group

Overview:

• South Korean cinema chain CJ CGV has led a group of investors in acquiring the Mars Entertainment Group, Turkey's largest cinema operator, for a total enterprise value of $800 million.
• CJ GCV purchased a 38.12% stake in the group, with the remaining shares bought by unidentified investors.
• The sellers included the Actera Group, which held a 69.5% shareholding in Mars alongside the Esas Group, and the founding partners Muzaffer Yildirim, Menderes Utku and Ayse Nilgul Utku who held the remaining 30.5%.
• Goldman Sachs and Morgan Stanley acted as financial advisers to the sellers.
• CJ CGV is the largest operator of multi-screen theatres in South Korea.

Jon Moore - Journalist