Germany’s Studio Babelsberg Acquired By Real Estate Group TPG
The company, which is part of global alternative asset firm TPG, first revealed plans to acquire a stake in the studio in September via TREP’s acquisition of Babelsberg’s main shareholder, Filmbetriebe Berlin Brandenburg GmbH , which was controlled by Carl L. Woebcken and Christoph Fisser. As part of that deal, FBB launched a public tender offer to acquire a majority of the shares in Studio Babelsberg, which went through in October.
All closing conditions of the transaction have now been fulfilled, the companies have said, with Woebcken and Fisser continuing to hold a minority stake in the studio., which is the second largest sound stage operator in North America and, with Babelsberg in the fold, will now operate 90 stages. However, the German studio will continue to operate as an independent brand.
Founded in 1911, Babelsberg is one of the most prominent European film studios, and has hosted such productions as “Inglourious Basterds,” “V For Vendetta” and “Bridge of Spies.” Michael Abel, partner at TREP, said: “Across the globe, Studio Babelsberg is known for its quality and as a symbol of Berlin’s and Brandenburg’s creative culture. 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.
Woebcken and Fisser added: “We are excited to announce a successful completion of the transaction, and to welcome TREP as Studio Babelsberg’s new partner. 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.”
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