Mohamed Al Fayed revealed as Pinewood suitor

ke02eww

http://www.bbc.co.uk/news/business-13159161


21 April 2011 Last updated at 12:09 ET Share this pageEmailPrint
83
ShareFacebookTwitter
Mohamed Al Fayed revealed as Pinewood suitor

Mr Al Fayed said that 'there can be no certainty that an offer will be forthcoming'
Continue reading the main story
Related Stories

Pinewood studios gets £87.8m bid
Pinewood to invest in UK movies
Pinewood to open in Latin America
Mohamed Al Fayed has revealed himself as the rival suitor for the Pinewood Shepperton film studio.

"Mr Al Fayed confirms he is considering making an all-cash offer for Pinewood," said the Egyptian businessman in a statement to the London Stock Exchange.

"There can be no certainty that an offer will be forthcoming."

Any offer would be in competition to an £87.8m takeover bid made earlier this month by Peel Holdings, a company run by billionaire investor John Whittaker.

British films
Peel Holdings has offered 190 pence per share for the 75-year-old film studio company.

But as of lunchtime on Thursday, Pinewood's shares had rallied 18% to 223p per share since the company first revealed on Wednesday that it had been approached by a possible second buyer.

Peel has recently sold the Trafford Centre to Capital Shopping Centres for £1.6bn and has already built a 29.78% stake in Pinewood.

Continue reading the main story
Pinewood Shepperton
LAST UPDATED AT 21 APR 2011, 11:30 ET

During 2010, Pinewood filmed the fourth instalment of the Pirates Of The Caribbean franchise, the final Harry Potter film and an adaptation of Jane Eyre.

Pinewood has studios in Buckinghamshire, and at Shepperton and Teddington in Middlesex.

Last month, Pinewood unveiled a 31% rise in pre-tax profits to £5.8m, and said it was looking to the future with "confidence" despite a poor economic climate.

The firm also unveiled an investment plan for small-budget British films.

The company will target films with production budgets of about £2m each and will invest equity up to 20% per film.

Sir Miles

Great - we can all look forward to a lovely statue of Michael Jackson outside Pinewood Studios now !

ke02eww

Sir Miles wrote:

Great - we can all look forward to a lovely statue of Michael Jackson outside Pinewood Studios now !

If that's the worst that happens....

Of course he may want to rename the 007 stage neverland....

Sir Miles

ke02eww wrote:

If that's the worst that happens....

You say that now...!!....but go ask Fulham FC fans just how much they like their Jackson statue )

ke02eww wrote:

Of course he may want to rename the 007 stage neverland....

Or perhaps Bond will just wear the one white glove ? 8-)

The Domino Effect

There's some money that I'd rather not have...and al Fayed's would fit that description. Nothing from him comes without strings attached and everything with which he is associated gets tarnished. I can only imagine what would happen if he bought Pinewood. He certainly would not be happy to sit back, produce sounds business plans and reap the benefits of his investment. Instead, we'd probably have Dodi appear as the hero in the next Bond film and Michael Jackson as his side-kick!

Wilde

The Domino Effect wrote:

Instead, we'd probably have Dodi appear as the hero in the next Bond film and Michael Jackson as his side-kick!

Somewhat disrespectful, but understood and agreed.

Regards,
Wilde -{

little nelly

The Domino Effect wrote:

There's some money that I'd rather not have...and al Fayed's would fit that description. Nothing from him comes without strings attached and everything with which he is associated gets tarnished.

Spot on. We don't want this fruitcake anywhere near Bond.