Technicolor, the French cinema production services provider and manufacturer of television STBs, plans to launch a capital increase of up to €158 million to strengthen its balance sheet and enhance its capabilities to implement its “Amplify 2015” strategic roadmap.
The planned capital increase, which is subject to shareholder approval, will also contribute to stabilizing Technicolor’s shareholder base. The stake will be acquired by an investment vehicle jointly owned by One Equity Partners, the private investment arm of JPMorgan Chase, and JPMorgan Chase & Co., which already holds 1 per cent of Technicolor’s equity and plans to increase its stake as part of the transaction to support Technicolor’s publicly disclosed strategy.
Frederic Rose, CEO of Technicolor, said: “The capital increase we are planning will provide the Company with a stronger financial structure and a stable shareholder base to implement its growth strategy. The planned investment is a strong evidence of confidence in Technicolor and an endorsement of our strategy and growth potential.”