DCS > News > SABAN CAPITAL to Acquire and Merge PANAVISION AND SIM

SABAN CAPITAL to Acquire and Merge PANAVISION AND SIM

Saban Capital Acquisition Corp., a publicly traded special purpose acquisition company controlled by Haim Saban, has announced a merger/acquisition of Panavision, Inc., and Sim Video International, Inc..  Panavision and Sim will become wholly-owned subsidiaries of Saban Capital Acquisition Corp.PanavisionNewLogo  Immediately following the proposed transactions, Saban Capital Acquisition Corp. intends to change its name to Panavision Holdings Inc. and is expected to continue to trade on the Nasdaq stock exchange.

NewSimLogoUpon the closing of the proposed transaction, Kim Snyder, President and Chief Executive Officer of Panavision will serve as Chairman and Chief Executive Officer, and Bill Roberts, Chief Financial Officer of Panavision, will serve in that role for the combined company.  Combining these two powerful service providers of end-to-end production and post-production solutions will create a dominant force that is bound to shake up the Industry.