Former Treasury Secretary Steven Mnuchin’s Fund Acquires Big Stake In Lionsgate
deadline.comLiberty Strategic Capital, a private equity fund led by former Secretary of the Treasury Steven Mnuchin, has acquired a hefty 5.5% stake in Lionsgate at a strategically sensitive moment for the company as it prepares to close a $500 million acquisition of eOne and plans to split up its studio and streaming businesses.
Lionsgate declined to comment on the news, revealed in an SEC filling this afternoon, that Liberty 77 Fund (a buyout fund operating by Liberty Strategic Capital) purchased 4,594,863 shares of Lionsgate in several dozen transactions between Aug.
10 and Aug. 30 at a price ranging from just over $7 a share to $7.46.77 The filng hints that the long-gestating separation of Lionsgate and Starz, which the company said last month it expects to complete in the first quarter of 2024, may have prompted the move.
It noted that Lionsgate “has publicly proposed a spin-off of its studio business as a separate public company.” Mnuchin served as the 77th Secretary of the Treasury under former president Donald Trump from February of 2017 through January of 2021.
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