Lawfuel – The Law Newswire – London — Allen & Overy LLP has advised the Royal Opera House on the purchase of Opus Arte UK Ltd, the internationally renowned classical music and dance DVD production and distribution company for GBP5.7 million. GBP2 million borrowings already in the company have been refinanced through alternative lenders. The acquisition was funded through the use of a special fund of accumulated reserves held by the Trustees of the Royal Opera House for sole purpose of capital and infrastructure projects. This is the first time an opera house has acquired its own DVD production and distribution company.
The Allen & Overy team was led by Corporate partner David Wootton, assisted by Clare Carlisle and included IP partner Colin Pearson, assisted by Kim Nicholl, Employment associate David Cummings and Incentives associate Susie Giele.
Commenting, David Wootton said: “This acquisition will help the Royal Opera House to achieve its objective of making its opera and ballet performances available in new digital formats, reaching a much wider audience and supporting the development of the art forms. It’s been a pleasure working with the team on this transaction.”
For further information please contact Karen Levin ([email protected]) on +44 (0)20 3088 4341.
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