Reliance Industries acquires 5% stake in Eros International PLC

Purchase price was $15.00 per share, which represents a total cash consideration of $46.6 million

e4m by exchange4media Staff
Updated: Aug 7, 2018 8:52 AM

Film and entertainment company Eros International PLC has announced that following customary approval processes, the sale of a 5% stake in Eros to Reliance Industries Limited, 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.

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