* Hands seeks at least $1.96 bln for Odeon
* Hands interested in green technology investments in China (Adds details background)
By Farah Master
BOAO, CHINA April 15 (Reuters) - Terra Firma Capital Partners Ltd is in talks with a buyer for the planned sale of its cinema chain Odeon & UCI Cinemas Group , the buyout group's founder Guy Hands said on Friday.
Hands told Reuters the buyout firm would want at least 1.2 billion pounds ($1.96 billion) for the asset.
"We've had a number of unsolicited inquiries and we are in discussions with one party," Hands told Reuters in an interview at the Boao Economic Forum in China.
Terra Firma has been in the spotlight since its 4 billion pound deal to take music business EMI private -- done at the height of the buyout boom in 2007 -- turned sour.
Battling under the weight of its debt, the company finally fell into the hands of its lender Citigroup Inc in February, wiping out Terra Firma's 1.7 billion-pound equity investment in the business. [ID:nLDE71102O].
Hands declined to comment on EMI.
On Odeon, he said: "Our choice is either to keep the company and continue to expand it or sell it. But we are very happy with the management team, very happy with their plans and we will evaluate the offer against what the alternatives are," Hands added.
Terra Firma received approaches for Odeon last year after rival cinema chain Vue Entertainment was sold to Doughty Hanson . One of those approaches for Odeon came from BC Partners , which had been narrowly pipped in the Vue auction.
Hands, who has been making more frequent trips to China in recent months, said he was not planning direct investments into China but would instead look to partner with local companies, particularly in the green technology such as wind, where technology expertise is relatively underdeveloped. "We are talking to a handful of companies to try and bring it down to a few companies. We would look at waste energy, solar, water treatment," Hands said. Both state and private companies are being considered he added but was unable to provide specific company names. (1 = 0.612 British Pounds) (Reporting by Farah Master; Editing by Denny Thomas)