banner image banner image
 

Reliance Industries Completes Acquisition of 5% Stake in Eros International

Eros International PLC (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that following customary approval processes, the sale of a 5% stake in Eros to Reliance Industries Limited (“Reliance”), previously announced on February 20, 2018, has been completed.

Reliance has acquired 3,111,088 newly issued A ordinary shares from Eros which represents 5.0% of Eros’ current issued and outstanding ordinary share capital on a pro forma basis. The purchase price was $15.00 per share, which represents a total cash consideration of $46.6 million.

Goldman Sachs & Co. LLC acted as exclusive financial advisor to Eros International Plc in this transaction.

 

Media
@adgully

News in the domain of Advertising, Marketing, Media and Business of Entertainment

More in Media