Marwyn raises stake in Entertainment One
Says it doesn't plan to take Canadian media group privateTORONTO -- British equity investor Marwyn Neptune Fund has raised its stake in Canadian producer-distributor Entertainment One from 27.7% to 44.4%, or 57.7 million shares.
Darren Throop, CEO of Toronto-based Entertainment One, also took advantage of the partial cash offer of 12.5 pence (17 cents) per-share to existing investors, unveiled March 6, to take his holding to 3.2%, or 4.2 million shares.
Additionally, Canadian movie producer Robert Lantos acquired a 0.9% stake, or 1.12 million shares.
Cayman Island-based E1, which has its executive offices in Toronto, completed the cash-raising exercise after canceling plans for a re-listing on the Toronto Stock Exchange.
Marwyn insists it does not intend to take the media group, which trades on London's Alternative Investment Market, private.