Pinewood deal is ap­proved

Buckinghamshire Advertiser - - NEWS -

THE MULTI-MIL­LION pound sale of the com­pany that owns Pinewood Stu­dios has been ap­proved by the fi­nan­cial reg­u­la­tor.

The Fi­nan­cial Con­duct Au­thor­ity (FCA) has given the go-ahead for the deal which would see Lon­don based as­set man­age­ment busi­ness Aer­mont Cap­i­tal LLP ac­quire the fa­mous Iver Heath based stu­dios.

A gen­eral meet­ing of the share­hold­ers will now be held on Septem­ber 19 where the deal will be voted on for it to be given the go-ahead.

A state­ment from the firms said: “The boards of di­rec­tors of Bidco and Pinewood are pleased to an­nounce that they have re­ceived ap­proval from the FCA.”

Pinewood Group, which owns the stu­dios, an­nounced ear­lier in the sum­mer that it had reached agree­ment with a prop­erty in­vest­ment com­pany ‘on the key terms of a pos­si­ble cash of­fer’.

The takeover bid is man­aged by the in­ter­na­tional prop­erty com­pany Aer­mont Cap­i­tal LLP, which is headed up by real es­tate mogul Leon Bressler. It serves as in­vest­ment ad­vi­sor to PW Real Es­tate Fund III LP, own­ers of Venus Grafton Sarl who are mak­ing the takeover bid.

In Fe­bru­ary the board an­nounced it had ap- pointed in­vest­ment bank Roth­schild to help with a strate­gic re­view of the com­pany, with a re­strict­ing share­holder reg­is­ter pre­vi­ously hold­ing the com­pany back from a pub­lic list­ing and from new fund­ing in­vest­ment.

The board also recog­nised the need for a fu­ture fund­ing strat­egy to be put in place to build on the com­pany’s suc­cesses.

Back then: The en­trance to Pinewood Stu­dios in 1957

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