Green seeks bidder for UCI bid

FORMER Carlton TV chief Michael Green has asked City financier Guy Hands to fund his bid for the UCI cinema chain after a backer pulled out.

It is believed that Green, ousted as chairman-elect of ITV last year, held talks with Hands' Terra Firma private equity firm last week after the decision of JP Morgan Partners to buy American cinema chain AMC Entertainment for £1.2 billion.

Green has teamed up with independent cinema chain CineUK to bid about £460 million for UCI, and had secured the financial backing of JP Morgan Partners and private equity firm Warburg Pincus.

He is also thought to have approached private equity firm BC Partners, but City bankers believe Green's overtures may have been rejected and that he will stay with Warburg Pincus.

Combining UCI with Cine-UK would create a cinema company with 700 screens, making it slightly bigger than the Odeon chain, which is also up for sale. The first bids for Odeon are due on August 9.

It is believed that Green, Terra Firma and BC Partners are on the shortlist to buy UCI.