Private equity bidders circle Terra Firma’s Odeon cinema chain

Terra Firma, the private equity owner of record group EMI, is understood to have received a number of approaches for its Odeon cinema chain.

One approach is said to have come from private equity group BC Partners, which lost out to Doughty Hanson in the recent bid battle for cinema group Vue Entertainment.

Canada’s Omers Private Equity, part of the Ontario’s municipal workers’ pension fund, which also lost out in the bid battle for Vue, is also thought to be interested, according to Sky News. The move follows Terra Firma’s founder Guy Hands’ defeat in his high profile New York court battle with Citigroup over the purchase of EMI.

Critics expected Hands to sell assets after the ruling.