Consortium Invests in Russia’s Karo Film Group (CEE and CIS)

Source: Baring Vostok Capital Partners

A consortium of investors, including Russian private equity firm Baring Vostok Capital Partners, Russian asset manager UFG Asset Management, the government-owned Russian Direct Investment Fund and media entrepreneur Paul Heth, has acquired a controlling stake in Russia’s Karo Film Group. Karo owns and operates 31 movie theaters with 197 total screens across Russia, and the investor consortium will support a US$100 million investment initiative to open new multiplex cinema venues under the Karo brand over the next three years. Terms of the deal were not released.