Chinese conglomerate Fosun Group is acquiring an additional 13.3% stake in Bona Film Group, while 21st Century Fox is divesting its stake in the Beijing-based studio.

Following the transaction with Fosun, the Shanghai-based, Hong Kong-listed investment group will hold a 20.8% stake in Bona Film Group. Fosun is also expected to be a lead investor in Jeff Robinov’s new Sony-based venture Studio 8.

Meanwhile, Bona’s founder and chairman Yu Dong has reached an agreement with 21st Century Fox to acquire its entire 19.3% interest in Bona Film Group for $71.4m. An affiliate of Fox acquired the ownership interest in Bona in May 2012.

The sale has no effect on the five film co-production pact between Fox and Bona, which is kicking off with a Chinese-language remake of Bride Wars, which started shooting in June.

“We remain committed to our current co-productions with Bona as well as to exploring future collaboration with them and others in the exciting and rapidly growing Chinese film market,” said Jim Gianopulos, chairman and CEO, Twentieth Century Fox Film.

Under the deal with Fosun, the Chinese investment group will acquire 4,165,926 Bona Film Group ordinary shares from Yu, at a price of $11.80 per share, or $5.90 per American Depositary Share (ADS).

Following the close of the transaction, Yu will own around 32.3% (including 2.7% from stock options) of the company’s ordinary shares. 

“This additional investment is another strategic foothold for Fosun in the global movie and entertainment industry,” said Fosun chairman Guo Guangchang.

“Bona has a unique vertically-integrated business model and an experienced and professional management team in the field. Our partnership will combine the resources of Fosun and Bona to capture attractive opportunities in the fast-growing domestic movie industry, as well as the opportunities that will emerge through cooperation in the movie business between the US and China.”