Ymagis and UGC signed today their final agreement for the deployment of digital projection systems in all the complexes of the group. The deployment, which started in March 2010 in the four countries where UGC operates cinemas (France, Belgium, Spain and Italy), will continue in the coming weeks.
Simultaneously, Ymagis has concluded the financing for the entire digitization of the 588 screens of the group. A bank syndicate lead by the Banque Populaire Group (Bred, Natixis Lease / Lease Expansion) together with LCL-Crédit Agricole, will finance most of the transaction, with Banque Palatine providing an additional credit line to Ymagis to complete the whole financing. This financing plan is the most important so far in Europe for a single digital deployment plan.
With this agreement, and taking into account other agreements signed previously, Ymagis becomes the leading deploying entity in France, and a major player in Europe. Ymagis has now contracts with more than 840 screens in France, representing more than 25% of the total French box office, and 1,150 screens in Europe including also Spain, Belgium, Germany and Italy.
