French film studio Pathé has announced a strategic partnership with French Lebanese logistics tycoon Rodolphe Saadé, under which his family holding company Merit France has taken a 20% stake in the company.
Founded in Founded in 1896, Pathé is France’s biggest and oldest film company spanning production, distribution and exhibition. The company the move would help accelerate its growth in an evolving macroeconomic and industrial landscape.
It added that the investment would be used in particular for the production of internationally-oriented films and series, as well as the modernization of its cinema network across Europe.
This long-term partnership sees Saadé and his family further diversify their assets into the cultural sector.
“Welcoming the Saadé family as a partner will accelerate the growth and modernization of Pathé. It will also allow us to continue working with the talent we value and to attract those who share our ambitions and aim for international success,” said Pathé head Jérôme Seydoux.
“We are proud to partner with Jérôme Seydoux and his family in Pathé, a flagship brand for film lovers both in France and worldwide. We are committed to supporting the development of the industry and promoting French cinematic culture around the globe,” added Saadé.
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