Angolan company Filmdrehtsich to acquire Portuguese cinema company Tobis Portuguesa

27 February 2012

Luanda, Angola, 27 Feb – Angolan company Filmdrehtsich will pay 3.78 million euros to buy a 96.31 percent stake owned by the Portuguese state in cinema company Tobis Portuguesa, Portuguese newspaper Jornal de Negócios reported.

According to the newspaper, Filmdrehtsich will keep the restoration and digital conversion arms of Tobis as well as its equipment and around 55 of the company’s current staff.

The Angolan company will rent properties off the Portuguese State, and some of the room made available may be let to third parties, which will also happen to the company’s studio, and the cinema archives will remain in the hands of the Portuguese state.

The Portuguese government plans to close the deal in March, Jornal de Negócios said.

Tobis Portuguesa had debt of close to 8 million euros, but the almost 4 million euros gained from the sale will settle its financial debts and those to suppliers.

According to Portuguese news agency Lusa, Angolan bank Banco Atlântico linked to Angolan state oil company Sonangol is associated to Filmdrehtsich. (macauhub)