New Delhi: Eros International Media Ltd on Monday said it will acquire 50% stake in Puja Entertainment and Films but did not disclose the amount involved in the deal.

The company has signed a “term sheet to acquire a 50% stake in Puja Entertainment & Films", Eros International Media said in a BSE filing.

It however did not disclose any financial details of the agreement. Eros Chairman Kishore Lulla said: “As a studio, we want to continue developing prolific content."

Puja Entertainment Chairman Vashu Bhagnani said: “Puja films has been in the movie making business for the past 20 years and it is crucial to partner with a global player like Eros to continue making meaningful and profitable cinema."