Pinewood Shepperton, the film and television studio facilities company, has announced its intention to seek admission to the official list of London Stock Exchange. The process is proceeding as expected and listing particulars have been issued to potential investors.
The listing will enable 3i to realize its four-year investment in the business. Pinewood was acquired for £67m from the Rank Group in February 2000 by a consortium led by Michael Grade, chairman, and Ivan Dunleavy, chief executive, and financed by 3i, Royal Bank of Scotland and Intermediate Capital Group.
In 2001 Candover sold Shepperton Studios to Pinewood Studios for £35m. 3i is a majority shareholder in the combined business.