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Unedited press release follows:
TECHNICOLOR : Technicolor completes the sale of its stake in Screenvision US to Shamrock Capital Growth Fund
PARIS–(October 14, 2010) – Technicolor completes the sale of its stake in Screenvision US to Shamrock Capital Growth Fund
Paris (France), October 14, 2010 – Technicolor (Euronext Paris : FR0010918292 ; NYSE : TCH) today announced that it completed the sale of the majority of its 50% stake in Screenvision US to Shamrock Capital Growth Fund II. The terms of the deal are presented in the press release of September 27, 2010. The transaction proceeds of 60m$ will be applied to the Disposal Proceeds Notes issued as part of the financial restructuring closed in the first semester 2010. Technicolor retains a minority shareholding and will continue to be the provider of film and digital services to Screenvision.
With more than 95 years of experience in entertainment innovation, Technicolor serves an international base of entertainment, software, and gaming customers. The company is a leading provider of production, postproduction, and distribution services to content creators and distributors. Technicolor is one of the world’s largest film processors; one of the largest independent manufacturers and distributors of DVDs (including Blu-ray Disc); and a leading global supplier of set-top boxes and gateways. The company also operates an Intellectual Property and Licensing business.