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The film producers Christoph Fisser and Carl Woebcken paid one euro almost 20 years ago when they bought the traditional Babelsberg studio near Berlin. The Parisian owner Vivendi, totally frustrated by his investment, even added 18 million euros to the huge site. Hardly anyone in the industry believed in the success of the two newcomers. But when Fisser and Woebcken sold the majority of the complex to the US financial investor TPG in early 2022, the two received more than 40 million euros for their shares – based on the price that the buyers offered to free shareholders. “Not a bad return for the original euro,” Fisser said happily.

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