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
Reliance Industries 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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