Wild Bunch Germany Raises $12 Million for Restructuring
The German division of the French indie giant merged with the struggling Senator Film group in 2014.
Wild Bunch Germany has raised close to $12 million (€11 million) via a new share issue and plans to use the cash to implement growth and restructuring plans at its Berlin-based division.
Quirin Bank subscribed all 5.372 million new shares of Wild Bunch Germany and will place the stock with institutional investors, Wild Bunch said on Thursday.
The new capital will go to pay off debt and bankroll Wild Bunch Germany's growth strategy. The group merged with the financially troubled German film group Senator in 2014, rebranding itself Wild Bunch AG.
The German division of Vincent Grimond's French film group has had a good year, with local sleeper hit Victoria grossing more than $3 million at the German box office and acquisition titles, including Paolo Sorrentino's Youth ($1.5 million local gross), also doing well.