Cultural Investment Holdings Co. acquires 75% interest in Framestore group

Ashurst advised the shareholders of Guidedraw Limited, the holding company of the Framestore group, on the sale of 75% of their shares to Ithink International Cultural Investment Co., Ltd, a subsidiary of Shanghai-listed Cultural Investment Holdings Co. Framestore’s management will retain a minority stake in the business.

Founded over 30 years ago, Framestore has developed into one of the most influential post-production houses in the global film industry. As well as Gravity, which won the company an Academy Award, Framestore has been nominated for Oscars for films including Superman Returns and Guardians of the Galaxy.

Framestore employs approximately 1,275 staff across four offices in London, New York, Los Angeles and Montreal and generated revenues of approximately £106 million in the year ended 31 March 2016.

The Ashurst team was led by corporate partner David Carter (picture), assisted by associate Jacob Gold and solicitor Francesca Witney. Partner Crowley Woodford advised on the employment and incentives aspects of the transaction, assisted by counsel David Baxter and solicitor Claire Fineran. Partner Alexander Cox provided tax advice, assisted by solicitor Shayaan Zaraq Bari.

Involved fees earner: David Carter – Ashurst; Jacob Gold – Ashurst; Francesca Witney – Ashurst; Crowley Woodford – Ashurst; David Baxter – Ashurst; Claire Fineran – Ashurst; Alexander Cox – Ashurst; Shayaan Zaraq Bari – Ashurst;

Law Firms: Ashurst;

Clients: Guidedraw Limited;