Alexander Mamut has bought Cinema Park

The businessman prepares the merge of the Russian largest cinema chains.
Alexander Mamut closed the deal to buy the largest Russian cinema network "Cinema Park" from the son of Suleiman Kerimov, Kommersant was told by Mr. Mamut's company. According to sources in the movie market, he is already negotiating the takeover of the second major network, Formula Kino.

Alexandr Mamut's A & NN Investments Ltd closed today the deal to purchase the largest cinema chain, "Cinema Park", from the son of Senator Suleiman Kerimov, Said, told "Kommersant" the top manager of one of the filmcinema networks and a source in the partner company "Cinema Park." A representative of A & NN Investments confirmed to Kommersant that the purchase of Cinema Park took place, he did not name the amount of the deal. The general director of "Cinema Park", Goarik Kotanjyan, said that she does not yet have confirmation that the deal had been closed. The investment company Altitude Management, owned by Mr. Kerimov, who ran Cinema Park, declined to comment.

Soon, the head of "Cinema Park" instead of Ms Kotanjyan will become Nadezhda Ermakova, a financier from the team of Alexander Mamut, who dealt with this deal, told the sources of Kommersant. Mrs. Ermakova is the general director of AO Obyedinennye Kinoseti, established by the A & NN Investments fund in December for this transaction. According to one source, she is a temporary figure, while Mr. Mamut examines two candidates from the film industry for this position.

The next step is the acquisition of Formula Kino, negotiations with its owners - investment company A1 and Vladimir Zakharov - are already at an advanced stage, several representatives of Kommersant in the industry, including employees of the Formula Kino, say. This deal may be closed in April, the top manager of one of the partner companies of Formula Kino knows.

"Cinema Park" with 39 cinemas occupies 7.5% of the Russian market in terms of the number of cinemas. This network is better developed in the regions. "Formula Kino" unites 35 cinemas, it has 5.9% of the market, it is more widely represented in Moscow and St. Petersburg. In total, they occupy no more than 14% of the number of screens, according to Nevafilm Research.

"Kommersant" reported about the interest of Mr. Mamut to purchase "Cinema Park" and merge it with a competitor in January. The cinema is his long-standing passion. For ten years, the businessman has been developing Pioneer Cinema, one of the most notable independent film studios in Moscow, and at the end of 2016 he agreed with the mayor's office on the long-term lease of Khudozhestvenniy in exchange for a restoration that is estimated at a minimum of 1 billion rubles. His holding company Rambler & Co also owns 50% of the company UCS, whose ticket system is installed in most major cinemas, and the site with schedules of cinemas and film reviews. Mr. Mamut's acquaintances say that among other things he was encouraged by the box office of the last major Russian paintings, for example, "The Viking", and the businessman is confident in the prospects of film screening in Russia.