Property fund set to buy UK film studio Pinewood for £323m
The acquisition must now meet the approval of Pinewood shareholders at a court meeting and general meeting on 19 September.
In a statement on the Pinewood website, Pinewood chairman Lord Grade of Yarmouth said Pinewood’s board “believes that Bidco can provide Pinewood with the platform required for future growth. The Pinewood Group has been transformed in recent years but has been somewhat constrained in realising its ambitions, due to the lack of share liquidity.
“The board is encouraged by the commitment Bidco has already shown to management, to Pinewood’s strategy for growth, and to the future of the iconic Pinewood Studios.”
If accepted by shareholders, the scheme is expected to become effective on 4 October.
Aermont Capital serves as an investment adviser to three pan-European funds with total equity commitments of approximately £3.4m.
Léon Bressler, managing partner of Aermont, said Pinewood was “an iconic brand at the heart of the global creative industries”, and that it had “ambitions to be realised”.
Pinewood Group’s studios is one of the world’s best known film studios, having played host to numerous Hollywood blockbusters, including the Star Wars, James Bond and Avengers films.