Group approves sale of film unit

The unit holders of the Movie Distribution Income Fund Friday approved the sale of the Fund’s 49% stake in Motion Picture Distribution, Canada’s leading film distrib, to a company controlled by Toronto private equity firm EdgeStone Capital Partners.

The other 51% of Motion Picture Distribution was owned by Alliance Atlantis, but EdgeStone Capital and a subsidiary of Goldman Sachs are in the process of taking over the distrib.

EdgeStone and Goldman Sachs are paying around C$193 million ($180 million) for the 49% stake.

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