Cinema City, Tshuva
Cinema City recently acquired Israel Theatres Real Estate BV a subsidiary of Israel Theatres Ltd. The return to unified real estate ownership and operations by CCI will potentially position CCI in a competitively stronger position. Many Israeli developers continue to look in Europe, America and worldwide from Yitzchak Tshuva to Ron Hershco to others.
“We came to the conclusion that new entertainment related projects acquired from Israel Theatres and the new, successful real estate projects of Cinema City have common ground and that we can achieve considerable synergies by placing them together under one entity. In addition the timing of this acquisition of the real estate assets provides good potential for growth and we believe it will be of significant benefit to Cinema City,” said Moshe J. Greidinger, CEO of Cinema City.
“Through the company history and mainly in the last 10 years CCI was led by its management through many moves which gained the company a reputation of knowing where and when to target it’s future. This vision combined with strong decision making have brought us to this day where we face a new platform with many opportunities to continue doing the best in developing the company in the huge entertainment field,” concluded Greidinger.
Cinema City International is the largest multiplex cinema operator in Central & Eastern Europe and in Israel.
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