16/09/2002 - Utopia finalises its merger with Holland's Polyfilm to create Benelux's premiere theatrical exhibition group

Luxemburg distributor, Utopia has finalised its merger with Holland’s Polyfilm to form Benelux’s first fully integrated film exhibition group. Utopia already had a 33 per cent share in the Dutch company and is also quoted on the Luxemburg stock exchange. «Our two companies share the same business philosophy so merger was a logical step. Also the audiovisual rights issue is taken very seriously in Benelux, » said the administrators. The new company has the following share breakdown: 46.33 per cent share of the new company is in the board’s hands, investors, Luxemburg’s Luxempart/Audiolux and Belgium’s Sofindev have a 27.72 per cent share while 17.09 per cent is in public hands.
Utopia is Belgium-and-Luxemburg’s third largest operator with a 2001 attendance of 2.1 million. It owns four 18-screen multiplexes in Luxemburg, one of which, Utopolis has an average annual attendance of 1.1 million. In Flanders, the Utopia group runs three multiplexes with a total of 22 screens and is about to open a new 8-screen theatre in Turnhout. Utopia entered the French exhibition arena in December 2001 and has one 7-screen complex in Longwy. Polyfilm is Holland’s fifth largest exhibitor with a total of 22 screens and 2001 attendance was 980,000.br>

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