Reliance Industries to acquire 5% stake in Eros International1 min read . Updated: 21 Feb 2018, 03:30 PM IST
A Reliance Industries subsidiary 'has agreed to subscribe to a 5% equity stake' in Eros International at a price of $15 per share, RIL said in a statement
Mumbai: Reliance Industries Ltd (RIL) on Tuesday said it will buy a 5% stake in NYSE listed Eros International Plc (Eros) through a subsidiary. RIL will pay $15 per Eros International share, which represents an 18% premium to Friday’s closing price. The two parties will invest up to Rs1,000 crore each to produce and acquire Indian films and digital originals across all languages, RIL said.
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