February 20, 2018 / 3:16 PM / 6 months ago

BRIEF-Reliance Industries To Acquire Stake In Eros International

Feb 20 (Reuters) - Eros International Plc :

* RELIANCE INDUSTRIES LIMITED TO ACQUIRE STAKE IN EROS INTERNATIONAL PLC

* RELIANCE INDUSTRIES ‍ANNOUNCES JOINT PARTNERSHIP WITH EROS INDIA TO SET-UP $150 MILLION FUND TO CO-PRODUCE, CONSOLIDATE CONTENT​

* DEAL FOR PRICE OF $15.00 PER SHARE

* JYOTI DESHPANDE, GROUP CEO AND MD OF EROS WILL BE STEPPING DOWN FROM HER EXECUTIVE ROLE

* ‍RELIANCE INDUSTRIES LIMITED​, THROUGH UNIT, AGREED TO SUBSCRIBE TO A 5% EQUITY STAKE IN NYSE LISTED EROS

* ‍KISHORE LULLA WILL RESUME HIS POSITION OF GROUP CHAIRMAN AND CEO OF EROS​

* RIL, CO AGREED TO PARTNER IN INDIA TO JOINTLY PRODUCE AND CONSOLIDATE CONTENT FROM ACROSS INDIA

* ‍JYOTI DESHPANDE TO HEAD RIL'S MEDIA AND ENTERTAINMENT BUSINESS AS PRESIDENT OF CHAIRMAN'S OFFICE​

* ‍DESHPANDE WILL CONTINUE TO REMAIN AS A NON-EXECUTIVE DIRECTOR ON BOARD OF EROS​

* PARTIES TO EQUALLY INVEST UP TO ABOUT $150 MILLION TO PRODUCE AND ACQUIRE INDIAN FILMS AND DIGITAL ORIGINALS ACROSS ALL LANGUAGES Source text for Eikon: Further company coverage:

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