🎦 Luxor Cinema Chain Sold for Half Price
Promsvyazbank (PSB) has concluded a repeat auction for the sale of LLC ASKino, the operator of the national Luxor cinema chain. JSC Invest R was declared the winner of the auction, acquiring the asset for 167.6 million rubles—exactly half of its initial asking price.
The lot was originally listed at 335.2 million rubles. The first attempt to sell the theater chain operator in late May collapsed after failing to attract a single bid. In the repeat auction, the buyer emerged as the Vologda-registered company Invest R, whose primary business profile is real estate rental and management.
The new owner assumes control over seven Luxor cinema locations: two operating in Moscow, two in St. Petersburg, and one each in Kursk, Ryazan, and Tula. All of these properties are under long-term leases by the operator, with no buyout rights.
The cinema chain transitioned into state ownership in late 2025. At that time, following a lawsuit filed by the Prosecutor General’s Office, the Moscow Arbitration Court seized the Russian assets of Latvia’s Rietumu Banka, which held the assets of ASKino as collateral, and transferred them to the state. Subsequently, the company was placed under the management of the Federal Property Management Agency (Rosimushchestvo).
From a commercial standpoint, the asset remains profitable: by the end of 2025, ASKino reported revenues of 663.7 million rubles and a net profit of 82.3 million rubles. Notably, box office ticket sales generated 75% of the operator’s revenue, while the remaining 25% came from cinema concession stands.
Source: Vedomosti
