Wednesday 28th June 2006

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Vue bought for £350m

Bank of Scotland is backing the secondary management buyout of cinema chain Vue Entertainment with £350 million of debt and equity. The buyout, led by Vue’s current chief executive Tim Richards, provides an exit for the incumbent private equity investors, Boston Ventures, Clarity Partners and Legal & General Ventures.

‘This is a landmark event for Vue Entertainment and is a goal that we have been working toward for some considerable time,’ rejoices Richards. ‘With the backing of our previous investors, we enjoyed exponential growth and are now in a strong position to take the business forward.’

Vue's claims a 20 per cent share of the UK cinema market, making it the third biggest chain in the country, with 55 theatres, 544 screens and 126,351 seats.

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