CPPIB to invest in entertainment company

CPP Investment Board (CPPIB) has agreed to buy a 17.9% stake in Entertainment One (eOne) for £142.4 million ($290.7 million).

CPPIB intends to acquire 52.9 million shares of the entertainment company from Marwyn Value Investors.

Toronto-based eOne specializes in the acquisition, production and distribution of film and television content, including The Walking Dead, Peppa Pig, and The Hunger Games.

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“We are pleased to have the opportunity to become a significant shareholder in eOne and to work with the company to help it achieve its ambitious growth plans of doubling in size within the next five years,” says Scott Lawrence, CPPIB’s managing director and head of relationship investments.

The sale is conditional upon CPPIB having received notice from the Australian Foreign Investment Review Board that there are no objections concerning its proposed acquisition of shares in eOne. Such notification, and the closing, is expected within 30 days.

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