The Company has been notified that Canada Pension Plan Investment Board ("CPPIB") has today made a commitment to acquire 52.9 million common shares of Entertainment One Ltd. at a price of £2.69 per common share from Marwyn Value Investors LP.
CPPIB's total investment of £142.4 million will represent an approximate 17.9% ownership interest in the Company. The transaction is conditional upon CPPIB having received notice from the Australian Foreign Investment Review Board that there are no objections concerning its proposed acquisition of shares in eOne. Such notification, and the closing, is expected within 30 days.
Darren Throop, Chief Executive, commented:
"We look forward to welcoming CPPIB as a significant shareholder of eOne. CPPIB has a strong track record of focusing on the long term success of the companies in which it invests and we are excited that it will play a part in the eOne story as we execute our strategy to double to size of the business over the next five years."
+44(0)20 7382 4730
Entertainment One Ltd.
Giles Willits/Patrick Yau
+44(0)20 3714 7931
Notes to Editors:
About Entertainment One
Entertainment One Ltd. (LSE:ETO) is a leading international entertainment company that specialises in the acquisition, production and distribution of film and television content. The Company's comprehensive network extends around the globe including Canada, the US, the UK, Ireland, Spain, Benelux, France, Germany, Scandinavia, Australia, New Zealand and South Africa.
Through established Film and Television Divisions, the Company provides extensive expertise in film distribution, television and music production, family programming, merchandising and licensing, and digital content. Its current rights library is exploited across all media formats and includes more than 40,000 film and television titles, 4,500 hours of television programming and 45,000 music tracks.