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

Goldman Sachs & Co. LLC acted as exclusive financial advisor to Eros International Plc in this transaction

BS Reporter  |  Mumbai 

Reliance Industries Limited

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

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.

& Co. LLC acted as exclusive to in this transaction.

First Published: Mon, August 06 2018. 20:38 IST