Pinewood deal is approved
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