- The deal will make the Shanghai-based company the second-largest shareholder in EuropaCorp.
- Besson’s holding firm Front Line remains the top shareholder with 31.58 percent.
- The companies have co-produced a number of films together including The Transporter trilogy reboot.
A subsidiary of China’s Fundamental Films has agreed to acquire a 27.9 percent stake in Luc Besson’s EuropaCorp for RMB 45 million (US$67 million), the company announced on Thursday.
The deal will make the Shanghai-based film producer, distributor, and financier the second-largest shareholder in EuropaCorp, with Besson’s holding firm Front Line remains the top shareholder with 31.58 percent, down from 43.8 percent.
The companies have an output deal first signed in 2012 and extended in 2015. They have also co-produced a number of films together including The Transporter trilogy reboot.
Other films the two companies co-produced include Lucy, Taken 3, and the upcoming The Warriors Gate. The Warriors Gate will release on November 18 in China.
“This capital increase will enhance EuropaCorp’s ability to produce and distribute English-language films and series worldwide,” said Besson in a statement.
“We’re delighted to strengthen our strong ties with Fundamental Films and the booming Chinese market. “After their significant investment in our film Valerian and the City of a Thousand Planets, this agreement reflects their confidence in both our company and our global strategy.”
“We are delighted to become the second largest shareholder in EuropaCorp and strengthen our relationship with Luc Besson’s studio,” Mark Gao, chairman of Fundamental Films, added.
“We are extremely confident in their ability to achieve its strategic goals and enthusiastic about the opportunity to work with it in this new phase of its development.”
Both boards approved the deal and it is expected to be approved by shareholders before the end of the year.
— Additional reporting by Qingyuan Wang
