TPG Real Estate Partners (TREP) has completed its acquisition of Germany’s Studio Babelsberg, which has recently hosted The Matrix Resurrections and Netflix series 1899.
TREP announced in September that it had agreed to acquire a stake in Studio Babelsberg via acquisition of the company’s main shareholder, Filmbetriebe Berlin Brandenburg GmbH (FBB), which was controlled by Carl L. Woebcken and Christoph Fisser, CEO and COO of Studio Babelsberg, respectively.
FBB then launched a public tender offer to acquire a majority of the shares in Studio Babelsberg for a cash offer price of €4.10 per Studio Babelsberg Share. The offer was subject to a minimum acceptance threshold, which was fulfilled on 29 October 2021.
Woebcken and Fisser maintain a minority stake in the business.
Studio Babelsberg now becomes part of TREP’s global studio platform, Cinespace Studios, the second largest sound stage operator in North America.
With Studio Babelsberg, Cinespace will now operate 90 stages.
Studio Babelsberg will continue to operate as an independent brand.
Studio Babelsberg has a long history of hosting productions, including recent German local language series such as Dark and Babylon Berlin, as well as feature films such as Inglourious Basterds, V For Vendetta and Bridge Of Spies.
“Across the globe, Studio Babelsberg is known for its quality and as a symbol of Berlin’s and Brandenburg’s creative culture,” said Michael Abel, partner at TREP. “With Studio Babelsberg, we saw an opportunity to invest behind a leading studio facility that is well positioned to benefit from secular growth trends in media and content consumption. We support the company’s strategy and direction and look forward to growing the business.”
“We are excited to announce a successful completion of the transaction, and to welcome TREP as Studio Babelsberg’s new partner,” said Woebcken and Fisser. “The team values our rich history and brings significant insight and business building capabilities to Studio Babelsberg’s next chapter. We look forward to working together to further solidify our position as Europe’s premier studio.”