Mukesh Ambani's Reliance busy 5% stake in Eros International Plc
BY - Vaishnavi Gupta
Senior Correspondent, IndianRetailer.com & Retailer Magazine Aug 07, 2018 / 1 MIN READ
Senior Correspondent, IndianRetailer.com & Retailer Magazine Aug 07, 2018 / 1 MIN READ
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.
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