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Eversheds advises AID Partners Capital on leading film visual effects company investment

  • United Kingdom

    28-03-2013

    Following Eversheds’ recent advice to AID Partners Capital on the acquisition of the HMV business in Hong Kong and Singapore, the global law firm has advised the buy-out fund on a US$10 million investment in Prime Focus World N.V. (“Prime Focus”) and the formation of a joint venture with Prime Focus’ parent, Prime Focus Limited.

    AID Partners Capital subscribed optionally convertible preference shares of Prime Focus that are convertible to 4% stake in that company. Prime Focus is the global leading provider of value-added creative and technical services for 2D to 3D content conversion, visual effects and animation services. It runs business in Los Angeles, New York, London, Vancouver and Mumbai. Prime Focus has worked on many popular 3D motion films including The Chronicles of Narnia, Harry Potter and the Deathly Hallows Part 2, The Smurfs and Men in Black 3.

    Prime Focus is a subsidiary of Prime Focus Limited, a company listed on Bombay and National stock exchanges in India, and a global leader in creative and technical services for the film, broadcast, advertising and media industries (the “Indian Parent”).

    Eversheds also advised AID Partners Capital on the formation of joint venture with the Indian Parent for visual entertainment services for motion pictures in Greater China region.

    The deal was led from Eversheds Hong Kong office by corporate partners Norman Hui and Stephen Mok, assisted by Senior Associate Dennis Fong, Associates Janice Yip, Grace Leung and Joanne Chong. Advice was also provided by Eversheds Amsterdam office, from partners Tom Van Wijngaarden and Mick Van Waateringe.

    Stephen Mok, Head of Corporate, Asia commented:

    “This is an exciting move which will capitalize on the strong demand for high quality visual entertainment services for motion pictures in the Greater China region. It is the second deal the firm has advised AID Partners Capital on in recent months and we look forward to assisting AID Partners Capital as they continue to diversify their portfolio with more innovative and exciting deals.”

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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