July 24, 2018
Wild Bunch Group finalises its financial restructuring plan and secures resources for future growth
• Solid financial foundations in place to enable Wild Bunch Group to pursue its future growth plans
• Significant improvement of the balance sheet, including EUR 54.6 million financial debt reduction
• Sapinda, a shareholder in Wild Bunch AG, increases its participation in the company as part of a financial restructuring
• Annual General Meeting to decide on capital measures
Wild Bunch SA, a wholly owned subsidiary of Wild Bunch AG, the leading pan-European film distribution and international sales company, saw the agreements with its main creditors and the investors (Sapinda Holding B.V. and SWB Finance B.V.), approved today by the Commercial Court of Paris.
These agreements are an important component of the global financial restructuring plan. As part of this plan SWB Finance B.V., a company of the Sapinda Group, will assume existing financial liabilities for a total amount of EUR 62.7 million, out of which EUR 36.6 million will be contributed into the equity of Wild Bunch AG.
Furthermore, the creditors of the 8% corporate bond issued in 2016 with a total nominal amount of EUR 18 million are to resolve the conversion of all bonds into new shares of Wild Bunch AG by way of a further capital increase.
The completion of both operations would translate into a EUR 54.6 million reduction in financial debt, and a parallel increase in equity.
The successful implementation of the afore-mentioned capital measures will lead to a shareholder structure where the existing shareholders would hold approx. 9%, the bondholders approx. 15% and the investors approx. 76%.
Moreover, the investors are to provide the Wild Bunch Group with shareholder loans of at least EUR 30 million in aggregate aimed at facilitating the acquisition of new content.
The contemplated capital increases will be submitted to the vote of the general meeting of shareholders which is expected to take place on September 20, 2018.
Furthermore, the investors have made dependent its participation in the restructuring inter alia upon the exemption from making a mandatory takeover bid granted by the German Federal Financial Supervisory Authority (BaFin).
Vincent Grimond, CEO of Wild Bunch AG, commented: “This is the culmination of a long-term plan which provides the company with enough resources to intensify its strategic evolution. In this fast-changing environment, and despite its focus on refinancing considerations, Wild Bunch has succeeded in developing its TV offering and in creating strong relationships with digital platforms around the world. We have a highly talented team and are involved in some of the most creative international content currently being produced, as demonstrated by the awards we won at the last Cannes Festival.
“The financial stability offered by Sapinda will enable Wild Bunch to pursue new market opportunities and to build on its considerable assets as a leading pan-European content provider.”
Lars Windhorst, CEO of Sapinda Group, commented: “We are pleased to be able to provide a financial solution to the highly decorated Wild Bunch film group, with this injection of equity capital, alongside a debt restructuring. An independent film champion like this with so much heritage, requires stability and support to initiate a new phase of profitable growth.”
If you have any media enquiries, please don’t hesitate to get in contact with Volker Siegert at WMP Finanzkommunikation GmbH for Wild Bunch on T. +49 (0)69 577 030 011
Alistair Kellie and Henry Adefope at Newgate Communications on +44 (0) 207 680 6550 for enquiries directed to Sapinda Alistair.firstname.lastname@example.org / email@example.com
Notes to Editors:
About Wild Bunch Group
The pan-European group based in Berlin and Paris is a leading independent European film distribution and production services company, active in the acquisition, co-production, direct distribution and international sales of movies and TV series. The holding company Wild Bunch AG is listed on the German market.
About Sapinda Group
Sapinda Group is a privately-owned Principal Investment holding company which is focused on special situation investment opportunities across continental Europe, Africa, Middle East and Asia. It invests in disruptive trends where its entrepreneurial innovation provides support and expertise to rapidly create value. The Group’s portfolio is well diversified across technology, commodities and property.
Sapinda has offices in London, Berlin and Amsterdam.