Pinewood Shepperton attracts another bidder

Film Studio Pinewood Shepperton was approached by a second possible bidder to take over the film studio. Earlier in the month they had been offered a takeoff bid of close to £87m. from billionaire investor John Whittaker’s company Peel Holdings.

Although there has not been a formal offer, Pinewoods mentioned that they had another approach from an interested third party. The said that in due course an announcement will be made.

The 75 year old film studio was offered by Peel Holding 190p per share. Peel to raise additional capital had recently sold to Capital Shopping Centres the Trafford Centre and have built close to a 29% share in Pinewood.

The fourth installment of the popular movie Pirates of the Caribbean, starring Johnny Depp, was filmed by Pinewood in 2010 as well as the incredibly popular blockbuster final of the Harry Potter films and a Jane Eyre adaptation.

Currently there are Pinewood Studios in Middlesex at Teddington and Shepperton and in Buckinghamshire. This past month pre-tax profits of close to £6m were announced by the studio that amounted to a 31% rise. They were looking to the future with a great deal of confidence regardless of the state of the present poor economy.

The company also mentioned they were unveiling an investment plan that was specifically for small budget films in Great Britain. The investment plan is targeting those films that have productions budgets up to £2m and they play to invest equity up to but exceeding 20% for each film.