The Valley could have a new high-profile public company with Saban Capital Acquisition Corp.’s purchase of Panavision Inc. in Woodland Hills and Sim Video International Inc. in Toronto.
Under the acquisition agreement, Los Angeles-based Saban Capital will pay $622 million for both Panavision and Sim. Saban Capital is a special purpose acquisition company started by billionaire Haim Saban.
Saban Capital plans to change its name to Panavision Holdings Inc. after the transaction closes, which is expected early next year. Currently, Saban Capital trades under the ticker SCAC on the Nasdaq; after the acquisition it will continue to trade on the Nasdaq. Panavision Chief Executive Kim Snyder and Chief Financial Officer Bill Roberts will serve in those same positions for the combined company.
Read the full story in the October 1 issue of the San Fernando Valley Business Journal.