More interest in buying Pinewood Shepperton

The film studio Pinewood Shepperton has been approached by another bidder. Peel Holdings, run by investor billionaire John Whittaker, earlier this month, offered a takeover bid of £87.8m. Until now Pinewood has not mentioned that another bid had approached them and as of yet they have not resulted in a formal offer.

The Peel Holdings offered amounted to 190p per share for the film studio that has been in existence for 75 years. Capital Shopping Centres purchased Trafford Centre from Peel for £1.6bn and Peel used that to increase their stake in Pinewood to 30%.

The Pirates of the Caribbean Part IV was filmed by Peel in 2010 as well as an adaptation of Jane Eyre and the final Harry Potter. They currently have studios in Shepperton and Teddington in Middlesex and in Buckinghamshire. Their pretax profits increased to £5.8m which is a 31% increase and there future looks positive despite the economy.

Any investment plan for small budget British films was unveiled with them targeting films with budgets of £2 and will invest to 20% equity.