Pinewood studios considers £250m sale

Pinewood, home to the Star Wars and James Bond Films, has launched a strategic review to look at a sale of over £250m.

The Guardian reports that Pinewood has appointed investment bank Rothschild to assist with a strategic review of the “overall capital base and structure” including the option of a sale.

“We believe Pinewood has the potential to build on the strong performance of the last few years to grow further both in the UK and internationally,” said Ivan Dunleavy, chef executive of Pinewood. “The board is now looking to identify the best ways to create the appropriate capital structure to allow the company to realise its goals in the best interests of shareholders.”

The company, which is chaired by former ITV executive chairman Michael Grade, has a market capitalisation of £250m.

The company said that it was kicking off the strategic review because its shareholder register “remains tightly held” which in turn has “stifled liquidity in the shares” and prevented the company from achieving its aim of obtaining a main stock market listing.

“The board has now determined that it is appropriate to evaluate alternative opportunities to maximise value for the company’s shareholders and to build on Pinewood’s successes to date,” the company said in a statement. “We believe there is a requirement for a funding strategy to be in place to fully realise the company’s future potential. Accordingly, Rothschild has been appointed to assist with a strategic review of the overall capital base and structure, which could include a sale of the company.”