The proposed £323m sale of Pinewood Group, the film and TV studios majority-owned by Peel Group, has been given the green light by the Financial Conduct Authority (FCA).

The FCA has rubber-stamped the deal by Aermont Capital, or more specifically PW Fund III, to acquire the home of the James Bond and Star Wars franchises.

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Pinewood Studios, majority-backed by Peel Group, to be sold for £323m

The transaction must now be approved by Pinewood’s shareholders at a general meeting on 19 September.

Shareholders will receive 560 pence in cash for each share plus a final dividend of 3.2p per share.

“The boards of directors of Bidco and Pinewood are pleased to announce that they have received approval from the FCA,” the firms said in a statement.

Pinewood Group, which first came to prominence in the 1950s and 1960s as the home of the “Carry On” and Norman Wisdom comedies, turned over £75m in the year to March 2015, with profit before tax of £5m.