Reliance To Acquire 5% Stakes Of Eros International

Reliance To Acquire 5% Stakes Of Eros International

In an attempt to strengthen its content strategy, Mukesh Ambani’s Reliance Industries is acquiring 5% stake in NYSE-listed Eros International, holding company of Indian Cinema Eros International Media (Eros India).

In a statement issued by the company, an overseas subsidiary of RIL will acquire Eros’ shares for $15 apiece, at an 18% premium to the last closing price. The transaction is subject to customary regulatory and other approvals.

Besides, RIL and Eros India will partner to jointly produce and consolidate content from across India. The parties will go for a joint investment of Rs. 1,000 crore to produce and acquire Indian films and digital originals across all languages.

Mukesh Ambani, CMD, RIL commented, “We are pleased to join hands with Eros, as it will bring further synergies into our plans, making for a win-win partnership. We are delighted to welcome Jyoti Deshpande into the Reliance family and believe that she will not only give wings to our plans but also play a pivotal role in transforming the sector.”


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