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Bidco gets backing for Pinewood deal

pinewood-studios-THUMB.jpegBidco has secured financing from two funds advised by DRC Capital for the £323.3m bid for Pinewood Group.

European Real Estate Debt II and DRC European Real Estate Debt III will be the arrangers and lenders of the debt for Bidco, a subsidiary of PW Real Estate Fund III.

Bidco announced on Friday that it would make a formal offer for the group, which owns Pinewood and Shepperton studios, home to the James Bond and Star Wars film franchises.

Paul Hastings advised the two funds while Jones Day advised Bidco and PW Real Estate Fund III asset manager Aermont in the bid for Pinewood Group.

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