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Reliance Industries Limited (RIL), will acquire 5% stake in Eros International, for Rs.1,000 crore, with a view to producing and acquiring Indian films and digital originals across all languages.
The company in a statement said that, RIL via a subsidiary, “has agreed to subscribe to a 5% equity stake” in Eros at a price of USD 15 per share. Both companies will partner in India to jointly produce and consolidate content from across the country.
Further it said, “The parties will equally invest up to Rs.1,000 crore in aggregate (about USD 150 million) to produce and acquire Indian films and digital originals across all languages.”
