Deal to buy Pinewood Studios gets the green light
The proposed takeover of Pinewood Studios by an international property fund for £323 million has been given the green light by Britain's financial regulator.
The Financial Conduct Authority (FCA) has rubber-stamped the deal by Aermont Capital, headed up by French property tycoon Leon Bressler, to acquire the famous home of the James Bond and Star Wars films.
“The boards of directors of Bidco and Pinewood are pleased to announce that they have received approval from the FCA,” the firms said in a statement. Shareholders will now vote on the deal on 19 September.
In July, Pinewood said the plunge in sterling following Britain’s decision to quit the European Union would give it a boost, adding that the impact of Brexit would be “largely mitigated” as its most significant customers are based in the US. Revenues at Pinewood, based in Buckinghamshire, grew 10.9 per cent to £83.2m.