Entertainment One moves closer to Alliance Films takeover

The indie distributor said it is clear to complete the purchase of its rival after the waiting period for Competition Bureau clearance had expired.

Entertainment One has signaled it is close to completing its proposed takeover of Alliance Films from Goldman Sachs Capital Partners and Investissement Quebec.

The indie distributor said the waiting period for clearance from the Canadian Competition Bureau had expired.

“Therefore the company is now clear to complete the acquisition, which it intends to do as soon as possible,” Entertainment One said in a statement.

“A further announcement will be made in due course,” it added.

In September 2012, the Toronto-based distributor said it was to acquire Alliance Films for around $225 million.

The proposed combined entity will create Canada’s largest indie distributor, backed by U.S. output deals with Relativity Media, Focus Features and The Weinstein Company.