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

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

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 acted as exclusive financial advisor to Eros International Plc in this transaction.