Financier TSG works with Fox on live action films such as The Martian.
China’s Bona Film Group has made a $235 million investment in TSG Entertainment Finance, a financier that works with Fox.
TSG has worked on Fox live action films such as Dawn of the Planet of the Apes, X-Men Days of Future Past, and The Martian.
The Investment is structured primarily with the Bona Film Fund and a credit facility arranged by East West Bank, and entitles Bona to participate in the on-going slate financing arrangement that TSG has with Twentieth Century Fox, which will continue to distribute the films worldwide.
“Our international strategy has played an important role in our overall business plan and this partnership with TSG Entertainment underscores Bona’s growing impact and brand awareness in the international film industry,” said Bona founder, chairman and CEO Yu Dong [pictured]. “We look forward to participating in more mainstream Hollywood productions and bringing high-quality foreign films to the domestic market. The ability to diversify our film slate is an important factor propelling Bona to a position as one of the leading film companies in China and across the world.”
Chip Seelig, Managing Member of TSG Entertainment said ”China is a critical market to our long term economic success. We are excited about our venture with Bona”.
The deal was developed by Pacific Media Group and negotiated by Jeffrey Chan, COO of Bona, with Chip Seelig of TSG. The financing was structured by Nicolas Qi, CFO of Bona, with the Bona Film Fund and East West Bank. Bona was represented by the Century City Office of O’Melveny & Myers LLP and Alexander Lawrence Frumes & Labowitz LLP,with additional legal support from Travers ThorgAlberga, and Hankun Law. The Seelig Group was represented by the New York Office of Proskauer, and East West Bank by the Los Angeles Office of AtkinGump Strauss Hauer & Feld LLP.