Pinewood Studios the home of many Star Wars films over the years, currently the home of Episode VIII, Rogue One, and the forthcoming Han Solo movie have accepted a takeover offer from a venture capital group.
In a statement, Pinewood said it was recommending a cash offer by Aermont Capital, an investment adviser to real estate funds established by Perella Weinberg, a New York-based merchant bank.Under the deal, shareholders will receive 560p in cash per share, as well as a 3.2p dividend.
The value is a 31% premium on Pinewood’s closing price of 430p on 9 February, before it hired investment bank Rothschild to begin a strategic review.
“The board believes [the deal] can provide Pinewood with the platform required for future growth,” said Pinewood chairman Lord Grade of Yarmouth.
The former boss of the BBC, ITV and of grocery delivery firm Ocado added: “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.
“As a result of the strategic review instigated by the board, Pinewood now has the prospect of a funding structure for the future.
“The board is encouraged by the commitment [the bidders] have already shown to management, to Pinewood’s strategy for growth, and to the future of the iconic Pinewood Studios.”
