Private equity group scooped up chain for $5mn following dispute with US real estate billionaire Charles Cohen
Fortress Investment Group has seized control of British art house cinema chain Curzon, after pursuing a legal campaign to auction off the assets of a troubled US real estate billionaire. The private equity group snapped up the cinema chain for $5mn at an auction last week, according to a person familiar with the matter. Announcing the deal on Tuesday, Fortress said it included Curzon’s 16 cinemas across the UK as well as film distributor Curzon Film and the Curzon Home Cinema streaming service.
Fortress, which is majority-owned by Abu Dhabi’s Mubadala investment arm and has about $48bn under management, has a UK portfolio which also includes Majestic Wine, Poundstretcher and Punch Pubs. The deal will secure positions for Curzon’s 350-plus workforce, Fortress said in its statement.
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