Mohamed Al Fayed eyes bid for Pinewood film studio

Published 21st Apr 2011

Billionaire businessman and former Harrods owner Mohamed Al Fayed is considering buying Pinewood Shepperton, the British film studio behind many of the James Bond movies.

Pinewood Shepperton said earlier this month that it had received a rival takeover approach after having initially been wooed by property investor Peel Holdings.

Thursday, Al Fayed said he was considering making a cash bid for Pinewood Shepperton.

"Mr Mohamed Al Fayed notes the recent speculation concerning a possible offer by him for Pinewood Shepperton Plc. Mr Al Fayed confirms he is considering making an all-cash offer for Pinewood," he said in a statement to the London Stock Exchange.

"There can be no certainty that an offer will be forthcoming," he added.

Al Fayed's interest caused Pinewood's shares to surge 10.4 percent to 223 pence by 11 a.m., giving Pinewood a market capitalisation of around 100 million pounds.

Last year, Al Fayed sold the prestigious London department store Harrods to the investment arm of Qatar's sovereign wealth fund in a deal estimated to be worth 1.5 billion pounds.

Al Fayed's current business interests include London soccer club Fulham, which he has owned since 1997.

Source: ' Reuters '

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