Yalta backers eye partial sale

50% stake would fund studio construction

MOSCOW -- Private investors behind Ukrainian production firm Yalta Film are looking to sell a 50% stake in the company to raise cash for the construction of a studio complex.

Located on the Crimean peninsula, the new studio will be based in a popular location for Ukrainian and Russian crews filming at the Black Sea, the company said Tuesday.

Yalta already has purchased land for the new complex, the construction of which is estimated to cost $20 million. Recently, another planned film studio complex near the Black Sea fell apart because of land issues.