AMC, a US cinema chain, acquired the Odeon and UCI cinema network from Terra Firma for close to £1bn.
AMC, which is owned by China's richest man - Dalian Wanda, already plans to install reclining seats and dine-in theatres after the acquisition proceedings are completed.
Following a year of speculation about the future of the Odeon chain, AMC has paid £921m for the portfolio, including £407m in assumed debts.