Reliance Industries Limited to Acquire Stake in Eros International PLC
EROS INTL PLC (EROS)
Last eros intl plc earnings: 11/15 07:45 am
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Source: Business Wire
Announces Joint Partnership with Eros India to set-up a $150 million fund to co-produce and consolidate content Jyoti Deshpande to head RIL’s media and entertainment business as President of the Chairman’s Office MUMBAI, India--(BUSINESS WIRE)-- Reliance Industries Limited (“RIL”) and Eros International PLC (“Eros”) announced today that RIL, through a subsidiary, has agreed to subscribe to a 5% equity stake in NYSE listed Eros at a price of $15.00 per share, which represents an 18% premium to last closing price. The transaction is subject to customary regulatory and other approvals. Furthermore, RIL and Eros International Media Limited (“Eros India”) announced that they have agreed to partner in India to jointly produce and consolidate content from across India. The parties will equally invest up to approximately $150 million to produce and acquire Indian films and digital originals acros
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