U.K. Film Studio Pinewood Group Agrees to be Bought for GBP323.3M
28 Julio 2016 - 2:38AM
Noticias Dow Jones
By Razak Musah Baba
LONDON--Pinewood Group PLC (PWS.LN) has agreed to recommended a
possible 323.3 million pounds ($424.4 million) cash offer from
Venus Grafton Sarl, to shareholders.
The provider of studio and related services, which has been
considering selling the business, said Thursday it has reached
agreement with Venus Grafton on the key terms of a possible cash
offer for Pinewood by Venus Grafton or one of its direct or
indirect subsidiaries (Bidco) which, if made, the Pinewood board
intends to recommend to Pinewood shareholders.
Under the terms of the possible offer, each Pinewood shareholder
will be entitled to receive 563.2 pence per share in cash for each
Pinewood share held, comprising 560 pence in cash for each Pinewood
share plus the final dividend of 3.2 pence per Pinewood share.
The film studio said Bidco has received hard irrevocable
undertakings in respect of a total of 37.8 million shares in
Pinewood, representing, in aggregate 65.76% of the share capital of
Pinewood in issue on July 27.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
July 28, 2016 03:23 ET (07:23 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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