French film group Pathe could buy stake in Luc Besson's EuropaCorp
29/05/2019 14:09
PARIS, May 29 (Reuters) - France's historic Pathe cinema
company could buy a stake in Luc Besson's EuropaCorp ECP.PA
production firm, which has been hit by a series of weak
financial results.
EuropaCorp confirmed on Wednesday an earlier report in Les
Echos newspaper of Pathe's interest in the company, set up by
its chairman and CEO Besson, who achieved fame in the 1980s for
hit movies such as 'Subway' and 'The Big Blue'.
"The group Pathé has expressed interest in a potential stake
acquisition in the capital of the company," said EuropaCorp.
EuropaCorp's shares surged 110% to 1.33 euros, giving the
company a market capitalisation of around 54 million euros.
(Reporting by Sudip Kar-Gupta; Editing by Dominique Vidalon
Editing by Leigh Thomas)
((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))