MADRID — The fastest growing pic producer in Spain, the Barcelona-based Filmax Group, has bought out the Catalan risk investment company Catalana de Iniciativas to wholly own production shingle Castelao Prods.
Filmax ups its investment from 50% ownership of a production company that aims to make eight pics annually.
Castelao productions to date include hit family comedy “Manolito Gafotas” and Filmax’s first animated feature “Goomer.”
Catalana’s withdrawal from Castelao was enivisaged from its creation in late 1998.
Co-owned by the Barcelona town hall and the Catalan regional government, which have 13% a piece, Catalana is driving into the film and TV sector. It owns 46% of homevid label Carolina Video Vending Iberica and aims to invest in new economy initiatives in Latin America.
Filmax has also teamed with risk investment company Xes Galicia.