DE Shaw group has invested in a 14.99% stake in Mumbai-based Crest Animation Studios and another 26% in its U.S. subsidiary Rich Crest Holdings for an aggregate infusion of up to $40 million.
RichCrest Animation Inc., located in Burbank, California, has entered into an agreement with Lions Gate Inc. for the production of three full-length, 3D feature films.
The first movie, SYLVESTER AND THE MAGIC PEBBLE, is scheduled for release in 2008. The second movie project titled, ALPHA & OMEGA, is in the development and is planned for release in 2009.