Private equity firm Terra Firma has agreed the sale of a portfolio of 11 cinemas, including the landmark UCI Empire Leicester Square, to Ireland’s Cinema Holdings for an estimated £60m.

In September 2004, Terra Firma acquired both the UCI and Odeon chains in a deal believed to be worth around £580m.

The deal made Terra Firma the largest force in the UK cinema industry, controlling 35 per cent of the UK’s box office share, above the recommended limit set for the sector by the Monopolies and Mergers Commission.

Consequently, the Office of Fair Trading required Terra Firma to sell a small number of cinemas to approve the deal. Other cinemas in the sale included the UCI Poole and Odeon Newcastle. Details: www.oft.gov.uk