ISLE OF MAN, United Kingdom--(BUSINESS WIRE)--Aug. 6, 2018--
Eros International PLC (NYSE:EROS) (“Eros”), a leading global company in
the Indian film entertainment industry, announced today that following
customary approval processes, the sale of a 5% stake in Eros to Reliance
Industries Limited (“Reliance”), 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.
About RelianceIndustries Limited
Reliance is India’s largest private sector company, with a consolidated
turnover of INR 430,731 crore (USD 63.3 billion) and net profit of INR
36,075 crore (USD 5.3 billion) for the year ended March 31, 2018.
Reliance is the first private sector company from India to feature in
Fortune’s Global 500 list of ‘World’s Largest Corporations’ – currently
ranking 203rd in terms of revenues, and 110th in terms of profits. The
company stands 106th in the ‘Forbes Global 2000’ rankings for 2017 – the
top-most among Indian companies. It ranks 10th in LinkedIn’s ‘Top
Companies Where India Wants to Work Now’ (2017). Reliance activities
span hydrocarbon exploration and production, petroleum refining and
marketing, petrochemicals, retail and 4G digital services.
About Eros International Plc
Eros International Plc (NYSE:EROS) is a leading global company in the
Indian film entertainment industry that acquires, co-produces and
distributes Indian films across all available formats such as cinema,
television and digital new media. Eros International Plc became the
first Indian media company to list on the New York Stock Exchange. Eros
International has experience of over three decades in establishing a
global platform for Indian cinema. The Company has an extensive and
growing movie library comprising of over 3,000 films, which include
Hindi, Tamil, and other regional language films. The company also owns
the rapidly growing OTT platform Eros Now. For further information
please visit: www.erosplc.com.
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Source: Eros International PLC
Eros International Plc
Mark Carbeck, +44-207-258-9909
Corporate and Strategy Officer
Erica Bartsch, +1-212-446-1875