A German-US group of investors, headed byCologne-based media lawyer Helge Sasseand German-born, Los Angeles-based independent producer Marco Weber (Igby Goes Down
Sasse and Weber struck the deal with Deutsche Bank and a consortium offinancial investors, who are to remain minority shareholders with a stake ofaround 30% together for the time being.
According to a press statement, Senator's newmajority shareholders will announce their plans for the company's futuredevelopment once the group has been fully discharged from insolvency. It isintended that the Berlin-based group will continue to be listed on the stockexchange.
The news of this transaction by the German-US groupof investors comes just a week after Kinoweltannounced that its rival bid for a takeover of Senator Entertainment had beenturned down by Deutsche Bank after several months of negotiations.
Kinowelt had argued that the motivation for wanting to take over Senator wasbecause they were companies 'whose activities and market presence wouldcomplement one another perfectly.' The Leipzig-based group pointed outthat it 'continues to be interested in Senator and will now aim for aminority interest via the stock exchange.'