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Stephan Ammann, a partner at PLUTA, sells CinePostproduction to MTI Teleport München

10 Feb 2015

The insolvency administrator Stephan Ammann of PLUTA Rechtsanwalts GmbH has sold CinePostproduction GmbH. The assets were acquired by MTI Teleport München GmbH, based in Unterföhring near Munich. The buyer has taken over the business units eDelivery to cinemas, Digital Cinema Package (DCP), the film warehouse including film restoration and parts of the post production.

At the Berlin location, 16 employees and in Munich 19 employees will be kept on. The remaining staff can join a transfer company, which will be involved in advising, training and finding employment for the employees.

Prior to the company being sold, there were a number of obstacles, e.g. the Bavaria Film Group’s surprising termination of the lease and utilization agreements at the locations in Munich and Berlin. Nevertheless, the insolvency administrator succeeded in finding an investor very quickly.

“I am really happy that, despite adverse conditions, we managed to remain successful on the market during insolvency proceedings and in the end found the best solution possible for CinePostproduction. Given the challenging conditions prevailing in the sector, MTI Teleport has the best possible structure, which the staff can also benefit from,” said Stephan Ammann, attorney and tax consultant. According to the current plan, the CinePostproduction brand will continue to exist.

Ludwig Schäffler, Managing Director of MTI Teleport, explained: “The takeover means that we are in a position to make the ideal addition to our portfolio of services revolving around digital content contribution and foresee in the next few years a great development potential in particular for eDelivery – the electronic delivery of films to cinemas via data lines – and other modern means of distribution.”

MTI Teleport and its affiliated companies have a workforce of approximately 100 employees and have many years of experience in the field of transmission technology via the fibre-optic network or satellite.

CinePostproduction GmbH is based in Grünwald and is a wholly-owned subsidiary of CineMedia Film AG. Both companies had to declare bankruptcy in August 2013. Since then the insolvency administrator Stephan Ammann has successfully managed business operations.

Matter Type
M&A: Seller's Counsel
Industry
Technology, Media & Telecoms
News Category
M&A
Technology, Media & Telecoms