TPG Real Estate Partners (TREP), the real estate equity investment platform of alternative asset firm TPG, has acquired German film production house Studio Babelsberg.
Dr. Carl L. Woebcken and Christoph Fisser, CEO and chief operating officer of Studio Babelsberg, respectively, maintain a minority stake in the business.
The deal was completed via the acquisition of Studio Babelsberg's main shareholder, Filmbetriebe Berlin Brandenburg GmbH (FBB), which was controlled by Woebcken and Fisser.
As part of the agreement, FBB launched a public tender offer to acquire a majority of the shares in Studio Babelsberg for a cash offer price of €4.10 per Studio Babelsberg Share.
The offer was subject to a minimum acceptance threshold, which was fulfilled on 29 October following a successful acceptance period. All closing conditions of the transaction have now been fulfilled.
With the closing of the transaction, Studio Babelsberg, located in Potsdam-Babelsberg, outside Berlin, has become part of TREP’s global studio platform, Cinespace Studios.
With Studio Babelsberg, Cinespace will now operate 90 stages, furthering its strategy of building a best-in-class studio platform for content makers across the globe.
Studio Babelsberg will continue to operate as an independent brand but benefit from the resources and networks provided by the global platform. Content produced here includes world renowned feature films such as Inglorious Basterds, V for Vendetta, Bridge of Spies, and recently The Matrix Resurrections.
'Across the globe, Studio Babelsberg is known for its quality and as a symbol of Berlin’s and Brandenburg’s creative culture,' said Michael Abel, partner at TREP.
'With Studio Babelsberg, we saw an opportunity to invest behind a leading studio facility that is well positioned to benefit from secular growth trends in media and content consumption. We support the company’s strategy and direction and look forward to growing the business.'
'We are excited to announce a successful completion of the transaction, and to welcome TREP as Studio Babelsberg’s new partner,' said Woebcken and Fisser.
'The team values our rich history and brings significant insight and business building capabilities to Studio Babelsberg’s next chapter. We look forward to working together to further solidify our position as Europe’s premier studio.'
