(Reuters) - British cinema operator Cineworld Group (>> Cineworld Group plc) said it will buy Poland's Cinema City International's (>> Cinema City International N.V.) movie theatre business in a cash and stock deal.

Cineworld said it will pay CCI 272 million pounds in cash and upon completion of the deal, CCI will hold 24.9 percent of its shares.

Cineworld, UK's only listed cinema chain, said it expects the deal to add to adjusted earnings per share in full year 2014 and be substantially accretive thereafter.

The enlarged company would be headed by CCI's Chief Executive Mooky Greidinger.

CCI's film distribution business is also part of the deal. Warsaw-listed CCI would stay listed in Poland and keep its property interests, Cineworld spokeswoman Elly Williamson told Reuters.

The deal will be funded through a fully underwritten rights issue to raise about 110 million pounds and new debt facilities.

(The story corrects paragraph 5 to say CCI's film distribution business is also part of the deal.)

(Reporting by Esha Vaish in Bangalore; Editing by Supriya Kurane)

Stocks treated in this article : Cinema City International N.V., Cineworld Group plc
Valeurs citées dans l'article : Cinema City International N.V., Cineworld Group plc