Prime Focus Subsidiaries to Receive $100M Investment from Multiples

Prime Focus Ltd (PFL) announced that its material subsidiaries, BHL and Brahma India, along with step-down subsidiary Double Negative Holdings Limited (UK), will receive investments totaling USD 100 million from Multiples Private Equity Gift Fund IV and Multiples Private Equity Fund IV. Multiples will invest USD 54.36 million in BHL and USD 45.64 million in Brahma India via CCPS. The overall fundraising round is targeted at USD 150 million. As part of the transaction, BHL will become the sole owner of Brahma India, and PFL's control over these entities will cease, though its indirect shareholding will remain above 50%. PFL's voting rights in BHL will reduce to 24.99% from 89.27%. Shareholder approval is required for the proposed cessation of control.