Summary
German state bank WestLB has sold its 43.4 per cent stake in one of Britain's largest cinema chains, Odeon, to British financier Guy Hand's Terra Firma Capital Partners.
The sale price was a doubledigit million figure above recent estimates of pounds 380 million sources said. WestLB had acquired its stake in Odeon in March 2003 and the sale is part of the bank's strategy to sell investments in its Principal Finance division, which it gave up after the business ran into huge losses.See the full content of this document
Extract
Bank Sells Odeon Stake
Odeon, w...
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