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Cineworld Group completes asset monetization strategies in United States through cinema sale-leaseback transactions

June 2019

Client(s) Cineworld Group PLC

Jones Day advised UK headquartered, Cineworld Group PLC in connection with an asset monetization strategy in the United States involving a combined cash consideration of $556.3 million cinema sale-leaseback transactions to convert a substantial portion of Cineworld’s U.S. real estate holdings into cash to leverage its equity and optimize efficiency. Cineworld’s Tennessee-based subsidiary Regal Cinemas, Inc. sold a total of 35 of its directly and indirectly owned multi-screen cinemas totaling 525 screens in 10 states to Realty Income Corporation and EPR Properties, which, in turn, leased the portfolio back to Regal through SPV’s pursuant to 15-year leases.

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