Skip navigation links
Press Releases
News from Turkey
Upcoming Tenders
Newsletter Subscription
This page is print preview page.
Click here to return to the page.
Print page
South Korean CJ-CGV acquires Turkish theater chain  

Dünya – Increasing box office revenue backed by a young population and a thriving domestic movie industry has lured South Korea’s largest cinema group to invest in Turkey.

CJ-CGV, South Korea’s largest multiplex chain with branches in China, Vietnam and the US, has reached an acquisition deal with Turkey’s Mars Cinema Group, owner of the Cinemaximum brand, for around USD 800 million.

According to the deal, CJ-CGV will own a 38-percent stake in Mars Cinema Group’s 710 Cinemaximum screens throughout Turkey. The other partners will hold the remaining 62 percent. Mars Group’s gym chain, Mac Fitness, is not part of the deal.

Entry into the Turkish market is a strategic move for CJ-CGV, which is planning to expand further onto Europe.

According to Turkey’s official statistics institute TurkStat, 55.4 million movie tickets were sold in the country in 2015, up 23 percent over the previous year.

As of the end of 2015, there were around 300 South Korean companies in Turkey with investments amounting to USD 1.3 billion.

24.05.2019 Rebalancing and Rebounding Process Continue in The Turkish Economy
10.05.2019 Reform Action Group Meets First Time Under Chairmanship of President Erdoğan
01.05.2019 YOIKK Holds its First Meeting with New Structure
18.04.2019 ATC Annual Conference Convenes in Washington D.C.
12.04.2019 Turkey Inaugurates New Structural Reforms
02.04.2019 Investment Office Holds Roadshows in Austria and Italy
15.03.2019 AmCham Turkey / ABFT Holds 15th General Assembly Meeting
14.03.2019 Real Estate Giants Gather at MIPIM 2019 in Nice
14.02.2019 FDI Inflows to Turkey Surged in 2018
12.02.2019 Japanese Secom Enters into Turkish Market
1 2 3 4 5 6 7 8 9 10