Summit Entertainment is close to completing its patchwork of deals for John Woo's upcoming Chinese military epic The Battle Of Red Cliff - which, at a reported $75m, is the most expensive Asian film in history.

The film, which will start shooting in March with a cast led by Chow Yun-Fat and TonyLeung Chiu-wai, was sold toNordisk in Scandinavia, Jaguar in the Middle East, PT Amero in Indonesia, Acme in the Baltic States, Forum in Hungary, and Bonton in the Czech and Slovak Republics.

Summit CEO Patrick Wachsberger also reported heavy interest on Sundance pick-up Once. The Irish musical sold to Icon in the UK and Australia, Kinowelt in Germany, SND in France, and Toshiba in Japan.

'Business has been great,' Wachsberger said. 'It's going extremely well. Apart from going out for dinner at night I have not left this room the entire time. This is only the third EFM we have attended but it's been very worthwhile.'

Once was one of the more popular hits at Sundance last month, where despite the huge volume of business clear favourites were thin on the ground.

John Carney's story follows a romance between a busker and an immigrant who chronicle their love affair through song over the course of a busy week. Glen Hansard and Marketa Irglova star.

Wang Hui-ling wrote the screenplay for The Battle of Red Cliff, which traces one of the most famous military conflicts in ancient Chinese history. Production is set to begin at the end of March around Beijing.