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Synonymous for many Britons with the heyday of British
cinema, Pinewood's first four studios were built in the 1930s at
its site west of London and the company has since grown with
facilities in the United States, Canada, Malaysia and the
Dominican Republic
The 007 stage at Pinewood, one of the largest in Europe, was
first built for the 1976 Bond movie "The Spy Who Loved Me" and
has been used by numerous films since including "The Da Vinci
Code" and "Lara Croft Tomb Raider".
Pinewood Group <PWS.L, which said in February it was seeking a
takeover to boost shareholder value and help it grow, said on
Thursday it would recommend shareholders accept the offer from
PW Real Estate Fund.
Pinewood shareholders will receive 560 pence in cash for each
share plus a final dividend of 3.2 per share. Its shares were
down 5 percent at 552p by 0928 GMT.
As a result of a failed takeover attempt in 2011, Pinewood's
biggest shareholder Peel Group owns 39 percent and Warren James
Holdings has 26 percent, Reuters data showed. Pinewood said both
had accepted the offer.
As well as its 20 stages at Pinewood, the group also boasts
underwater filming facilities, television and film
post-production and editing and recording services for the
computer games industry.
To many older Britons, Pinewood achieved fame in the 1950s and
1960s for being home to the long-running "Carry On" comedy films
and Norman Wisdom comedies.
Investment bank Rothschild advised Pinewood on the deal.
(Reporting by Costas Pitas; Editing by David Holmes)
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