Troubled German producer-distributor Senator Entertainment is reportedly "negotiating with a strategic investor" to invest in the company.
Berlin daily newspaper Der Tagesspiegel reported on Wednesday that Senator's executive board was "conducting takeover talks with a limited partnership active in the film fund business."
It also quoted Bolko Hoffmann, CEO of Effectenspiegel which recently increased its stake in Senator to 10%, as saying that "the investor is very solvent and has come to an agreement with the creditor banks on contribution in kind for Senator."
Reacting to the newspaper article, Senator issued a press statement denying knowledge of any such agreement as described by Hoffmann. "What is accurate is that there are still intensive negotiations underway on solutions for the continuation of the company's operations".
Last month, Senator began crisis talks with its banks after admitting that it had exhausted all its remaining share capital.