Bona Invests in TSG Entertainment Finance
BEIJING, Nov. 5, 2015 /PRNewswire/ -- Bona Film Group Limited ("Bona" or the "Company") (NASDAQ: BONA), a leading film distributor and vertically integrated film company in China, today announced that it has made a $235 million investment (the "Investment") in TSG Entertainment Finance LLC ("TSG"). TSG is a film finance entity working with Twentieth Century Fox to finance primarily live action films. Films previously included in the TSG Entertainment Finance slate have included Dawn of the Planet of the Apes, X-Men Days of Future Past, and the recently released Ridley Scott film, staring Matt Damon, The Martian.
The Investment is structured primarily with the Bona Film Fund and a credit facility arranged by East West Bank, and entitles Bona to participate in the on-going slate financing arrangement that TSG has with Twentieth Century Fox, which will continue to distribute the films worldwide.
"Our international strategy has played an important role in our overall business plan and this partnership with TSG Entertainment underscores Bona's growing impact and brand awareness in the international film industry," said Bona's founder, Chairman and CEO, Mr. Yu Dong. "We look forward to participating in more mainstream Hollywood productions and bringing high-quality foreign films to the domestic market. The ability to diversify our film slate is an important factor propelling Bona to a position as one of the leading film companies in China and across the world."
Chip Seelig, Managing Member of TSG Entertainment said, "China is a critical market to our long term economic success. We are excited about our venture with Bona".
"We are pleased with the opportunity to add such a high quality Chinese partner to the TSG Entertainment financing activities," stated Bob Seelig, a founding partner of The Seelig Group.
The deal was developed by Pacific Media Group and negotiated by Jeffrey Chan, COO of Bona, with Chip Seelig of TSG. The financing was structured by Nicolas Qi, CFO of Bona, with the Bona Film Fund and East West Bank. Bona was represented by the Century City Office of O'Melveny & Myers LLP and Alexander Lawrence Frumes & Labowitz LLP, with additional legal support from Travers Thorg Alberga, and Hankun Law. The Seelig Group was represented by the New York Office of Proskauer, and East West Bank by the Los Angeles Office of Atkin Gump Strauss Hauer & Feld LLP.
About Bona Film Group Limited
Bona Film Group Limited (Nasdaq: BONA) is a leading film distributor in China, with an integrated business model encompassing film distribution, film production, film exhibition and talent representation. Bona distributes films to Greater China, Korea, Southeast Asia, the United States and Europe, invests and produces movies in a variety of genres, owns and operates thirty movie theaters and manages a range of talented and popular Chinese artists.
For more information about Bona, please visit http://www.bonafilm.cn.
To be added to Bona's email list to receive Company news, please send your request to [email protected].
About The Seelig Group LLC
The Seelig Group LLC is a private Media & Entertainment principal investment and advisory firm founded in 2012 by a group of successful and experienced entrepreneurs, executives and investors. The Seelig Group serves as the consultant to TSG Entertainment Finance LLC.
Contact Us:
In China:
Peng Li
Bona Film Group Limited
Tel: +86-10-5631-0700-398
Email: [email protected]
In the U.S.:
The Piacente Group, Inc.
Investor Relations
Don Markley
Tel: (212) 481-2050
Email: [email protected]
SOURCE Bona Film Group Limited
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