Eduardo Costantini’s Buenos Aires-based Costa Films has expanded into Brazil, linking with Vania Catani’s Bananeira Filmes in Rio de Janeiro.
Partnership was sealed by Costa taking a minority stake in Bananeira. Costantini will join Catani on Bananeira’s board of directors while Catani will continue to run Bananeira, a film production house.
Costa already teamed in 2006 with the Weinstein Co. to create the Latin American Film Co., which produced Brazilian hit “Tropa Elite.”
Mexico’s Alex Garcia has also taken a minority stake in Costa, giving it gap financing and a beachhead in Mexico.
According to Costantini, under the partnership, Bananeira will continue to produce lower-budget art pics. The company will also work to attract international shoots to Brazil, with Bananeira’s production involvement.
Explaining Costa’s entry into Brazil, Costantini also underscored its advantageous production conditions, including tax incentives, growing direct subsidy funds, a diversified production sector, and an abundance of both established and emerging film talent.
“For both Bananeira-generated films and international shoots, we aim to raise money from local governments and the private sector, as well as investors from outside Brazil,” Costantini said.
Co-producing across Latin America, Costa’s producers can come to the international table with a larger part of a budget covered, retaining more control over a project, he added.
Created in 1997, Bananeira produced Matheus Nachtergaele’s 2008 Un Certain Regard player “The Dead Girl’s Feast.”
Catani and Costantini will announce new projects together in the upcoming months.