PW Real Estate Fund III LP, a fund of Aermont Capital LLP agreed to acquire Pinewood Group plc (AIM:PWS) from a group of investors for approximately £320 million in cash on July 27, 2016. Under the terms of the agreement, PW Real Estate Fund III LP, a fund of Aermont Capital LLP will pay £5.6 per share of Pinewood Studios Limited. The transaction is intended to be implemented by means of a Court-sanctioned scheme of arrangement. The investor group comprises of Aviva plc, Goodweather Investment Management Limited, Warren James Holdings Ltd., Lord Grade of Yarmouth, Ivan Dunleavy, Nicholas Smith, Andrew Smith, Christopher Naisby and others. Post closing, Pinewood Group plc will be wholly-owned by PW Real Estate Fund III LP, a fund of Aermont Capital LLP. European Real Estate Debt II and DRC European Real Estate Debt III No 2, two funds advised by DRC Capital, are the arrangers and original lenders on the financing. The significant majority of the cash consideration payable will be provided by PW Fund III, with the balance from the third party finance parties. The scheme became effective on October 4, 2016. Aviva plc will sell 8.1 million shares, Goodweather Investment Management Limited will sell 22.4 million shares, Warren James Holdings Ltd. will sell 15 million shares, Lord Grade of Yarmouth will sell 0.01 million shares, Ivan Dunleavy will sell 0.18 million shares, Nicholas Smith will sell 0.09 million shares, Andrew Smith will sell 0.02 million shares, Christopher Naisby will sell 0.02 million shares and others will sell the remaining shares. Post closing, the existing employment rights of all the Pinewood Group's employees will be fully observed and pension obligations complied with. As of August 12, 2016, long stop date is December 12, 2016. As of July 28, 2016, PW Real Estate Fund III LP, a fund of Aermont Capital LLP has received hard irrevocable undertakings in respect of a total of 37.75 million shares in Pinewood. As of August 12, 2016, PW Real Estate Fund III LP, a fund of Aermont Capital LLP has received hard irrevocable undertakings in respect of a total of 37.43 million shares in Pinewood. The transaction is subject to approval from court, shareholders of Pinewood and PW Real Estate Fund III LP, a fund of Aermont Capital LLP completing its financing arrangements, which involves finalizing and documenting credit committee approved proposals from financing parties, which will take up to 4 weeks to conclude. Financial Conduct Authority approved the deal on August 30, 2016. As of September 27, 2016, High Court of Justice in England and Wales approved the transaction. Pinewood shareholders approved the deal on September 19, 2016. The transaction is expected to close on October4, 2016. Alex Midgen , Nick Ivey and Sam Green of N M Rothschild & Sons Limited acted as a financial advisors to Pinewood Group plc, Simon Hampton, Gerry Young and Jon Raggettof PwC Corporate Finance LLP acted as a financial advisor to Pinewood Group plc, Edward Knight of Peel Hunt LLP acted as a financial advisor and broker to Pinewood Group plc, James Olley of Montfort Communications acted as a public relations advisor to Pinewood Group plc and Kim Fletcher and Oliver Hughes of Brunswick acted as a public relations advisor to Venus Grafton Sarl. Paul Hastings acted as the legal advisor for the European Real Estate Debt II and DRC European Real Estate Debt III No 2, two funds advised by DRC Capital. Anna Cartwright, Neil Ferguson, Leon Ferera, Emily Stew and William McDonald of Jones Day acted as legal advisor for Aermont Capital. Travers Smith LLP acted as legal advisor to Pinewood.