Mukesh Ambani's Reliance busy 5% stake in Eros International Plc

Film and entertainment company Eros International plc announced the completion of sale of a five per cent stake in Eros to Mukesh Ambani’s Reliance Industries Limited (RIL), previously announced on February 20, 2018, amid the customary approval processes.

Reliance has acquired 3,111,088 newly issued A ordinary shares from Eros which represents five per cent of Eros’ current issued and outstanding ordinary share capital on a pro forma basis. The purchase price was $15 per share, which represents a total cash consideration of $46.6 million.

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