22 July 2008
22 July 2008 - Leading international law firm Mayer Brown has advised Entertainment One Ltd on their acquisition of five television production, television distribution and film distribution businesses in Canada in a deal worth C$51.5 million (£25.7 million).
Entertainment One Ltd. has conditionally agreed to acquire Barna-Alper Productions Inc, Blueprint Entertainment Corporation, Oasis Pictures Inc, Maximum Film Distribution Inc and Maximum Film International Inc.
Entertainment One Ltd. is an international entertainment business operating in Canada, UK, Europe and the USA. It is listed on the AIM market of the London Stock Exchange. Mayer Brown has advised Entertainment One since its incorporation.
Robert Hamill, corporate partner at Mayer Brown said: "The acquisitions of Barna-Alper and Blueprint, both established independent TV production companies in Canada and Oasis, a film and television international sales and distribution company, establish Entertainment One as a significant TV producer and distributor in the Canadian market. The acquisitions also mark a significant milestone in Entertainment One's strategy to build a significant international content ownership and distribution business."
The acquisitions will be completed by a newly incorporated subsidiary of the company. The initial consideration is C$51.5 million, paid as to C$21.9 million in cash and C$29.7 million in the allotment and issue of exchangeable shares in a wholly owned subsidiary of the company and a new class of special voting shares in the share capital of the company.
The Mayer Brown team advising on the deal were UK corporate partners Robert Hamill and Lauri-Lynn Pursall.
Entertainment One Ltd was also advised by Osler, Hoskin & Harcourt LLP of Toronto and Maples and Calder of the Cayman Islands.
For further information:
Mayer Brown, London
+44 (0)20 7782 8547
Mayer Brown, London
+44 (0)20 7782 8558