July 18 (SeeNews) - Cineplexx Romania, the local subsidiary of Austria's Cineplexx International, said on Thursday it is acquiring the multiplex cinema located in the Iris Titan Shopping Center, in Bucharest.
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Following the acquisition, the cinema will be renamed to Cineplexx Titan and will welcome its customers in mid-August, Cineplexx Romania said in a press release.
The multiplex, previously owned by NEPI, a property investment and development group incorporated in the Isle of Man, and operated by Cine Globe, a cinema chain owned by Indian entertainment company Cine Grand, has seven cinema halls and a total capacity of 950 seats.
In the following two years, Cineplexx Romania is planning to further expand its presence with several movie theaters in Bucharest and other major cities in the country, having already announced three new locations in Satu Mare, Sibiu and Targu Mures by the beginning of next year.
The operator entered the Romanian market earlier this year after acquiring Grand Cinema & More in Baneasa Shopping City, in which further investments will also be made.
Cineplexx owns 49 Multiplex Cinemas and six traditional cinemas in 12 countries: Austria, Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Kosovo, Albania, North Macedonia, Greece, Italy, and Romania.