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Jan 23 (Reuters) - AMC Entertainment Holdings Inc, the No. 1 U.S. theater operator, said it would buy Nordic Cinema Group, the largest cinema chain in the Nordic and Baltic countries, for the equivalent of $929 million in cash.
AMC said on Monday is would buy Stockholm-based Nordic Cinema from European private equity firm Bridgepoint and Swedish media group Bonnier Holding.
Nordic Cinema, which has 68 theaters in about 50 cities, will operate as a unit of London-based Odeon Cinemas Group, the largest cinema operator in Europe that AMC acquired in November, AMC said.
AMC said Nordic Cinema's revenues was the equivalent of about $375 million in the year ended Sept. 30, while its operating margins for the period exceeded those of AMC.
The company said it expects the deal to be closed by June 30, after which it would operate 1,000 theaters in 15 countries in the United States and across Europe.
AMC said the transaction has fully committed debt financing in place arranged by its financial adviser, Citigroup.
Nomura International is Nordic Cinema's financial adviser.
Pinsent Masons LLP; Husch Blackwell LLP; Weil, Gotshal & Manges LLP and Lindahl are AMC's legal advisers. White & Case LLP and Mannheimer Swartling are Nordic Cinema's legal advisers.
(Reporting by Aishwarya Venugopal and Laharee Chatterjee in Bengaluru; Editing by Savio D'Souza)