Turkish Group To Rescue BCMB

Merchant bank British & Commonwealth (BCMB), which has been in the hands of administrators since last summer’s collapse of parent B& C Group, appears almost certain to be sold to the Cukurova Group, a Turkish industrial and commercial conglomerate that owns banks in Turkey and Germany.

The deal, which is expected to close within the next two months, could be good news for film producers: BCMB has a thriving media finance division and hopes are high that the Turks will want to maintain it as an integral part of the business.

Before the administrators moved in, the division had generated about $90 million of film-related business. It recently helped finance the Dolph Lundgren picture “Cover Up.”

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