Portuguese cinema company Tobis Portuguesa bought by Angolan investors

24 October 2011

Lisbon, Portugal, 24 Oct – Portuguese cinema producer Tobis Portuguesa has been acquired by Angolan investors for 7 million euros, Portuguese financial daily newspaper Jornal de Negócios reported in Lisbon.

The newspaper did not reveal the identity of the buyers nor whether the acquisition of Tobis Portuguesa, a company that is 98.4 percent owned by the Portuguese state, via the Cinema and Audiovisual Institute included taking on debt of around 8 million euros or whether the Portuguese state will remain responsible for it.

Tobis Portuguesa, which was put on sale in February, was set up in 1932 and its business focused on producing films and laboratory work.

Later it expanded its services to the areas of television and advertising as well as restoration of film archived and post-production services. (macauhub)