Terra Firma, the private equity firm run by Guy Hands, is seeking to sell cinema chain Odeon & UCI for between £700 million and £1 billion, Financial Times reports. Interested companies include London-based private equity firm BC Partners, Vue Entertainment and Omers Private Equity. Hands may appoint Bank of America Merrill Lynch to manage the auction. The bank will also be responsible for examining the option of refinancing the company with new debt of about £600 million. Odeon, Europe’s largest cinema group, owns more than 200 cinemas and 1,850 screens across the U.K. and Europe.
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