The British leisure and restaurant group RANK has announced the sale of: i) the cinema chain ODEON to the venture-capital group CINVEN for £280 million. In 1998, this chain had a turnover of £128 million, with 43,000 staff and 75 cinemas totaling 464 screens, and; ii) the PINEWOOD cinema studios for £62 million to a consortium headed by Michael Grade, former director of Channel 4. These studios had a turnover in 1999 of £13.2 million. RANK is, moreover, through its subsidiary DELUXE VIDEO...