Chinese investors led by CIH acquired stake in UK studio Framestore
A consortium of Chinese investors led by Cultural Investment Holdings (CIH) has acquired 75% stake in London visual effects company Framestore in a deal that values it at nearly $185 million.
Framestore started as a five-person team based in Soho, the heart of London's creative industries, and has become one of the world's biggest post-production houses in the film industry. It now employs 1,400 staff and has offices in London, New York, Montreal and Los Angeles. Cultural Investment Holdings, formerly SongLiao Automotive is mainly engaged in the construction materials trading and e-commerce trading business. It has also engaged in the manufacture and sale of automobile body parts, Reuters says.
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