Entertainment company, Chorion, is seeking to sell its majority stake owned by private equity firm, 3i Group, Market Watch reports, citing The Mail on Sunday. Chorion will use the sale proceeds to fund a takeover of Apax Partner’s Hit Entertainment.
The company has been looking for a backer since executive chairman, Lord Alli, approached 3i Group about purchasing its stake. Alli is looking for a new owner to acquire all or part of Hit.
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