One of India's premiere film bonding company, Infinity Film Completion Services, has acquired 25 per cent stake in Brazil's biggest film distribution company Lumiere.
With this arrangement in place, Infinity FCS now becomes a 25 per cent partner in Lumiere's distribution business thereby allowing Infinity FCS to distribute all of Lumiere's films in the Indian market.
According to Aanand Mahendroo, managing director, Infinity FCS, “We have ambitious plans in this line of business for the coming years and joining hands with Lumiere is the first step in this direction. We should be announcing more such deals in the coming months.”
Founded by Aanand Mahendroo and Mehool Parekh, Infinity FCS is a division of Infinity India Advisors Pvt Ltd. The nature of business conducted includes giving guarantees of completion to producers and financiers of Indian and international films.
The General Insurance Corporation of India (GIC)-India's state-owned re-insurer-backs Infinity's services.
While Mahendroo refrained from disclosing the financial details of the deal, according to a Brazil's Variety Magazine, Infinity FCS and NYC-based investment advisory and equity participation firm SCGI Financial Partners have together invested $10 million for becoming Lumiere's shareholders.
As for Infinity FCS's other investment plans are concerned, company sources indicated that it is either close to or has already acquired 25 per cent stake for an undisclosed sum in Hong Kong filmmaker Yu Lik-wai's upcoming international co-production Plastic City. An acclaimed filmmaker and Cannes award winner Yu Lik-wai is exploring something new and revolutionary in his new movie.
“In fact, there are quite a few deals being pursued across various nations globally. However, we are not at liberty to make these public. We will slowly unfold the plans in the coming few months,” said a company official.
In fact, Infinity FCS will also be launching a film next month.
Christened, The Gift Horse, the film will be shot in Yorkshire and will be directed by Ahmed A Jamal who also directed a movie on the murder of journalist Daniel Pearl.
Company sources said that Jamal is soon expected to visit India to finalise the lead pair. “Irfan Khan and Tabu are being considered for the lead pair,” said the source.
Source: Sify