Reliance Industries Ltd (RIL) has completed the purchase of a 5 per cent stake in NYSE-listed Eros International at $15 a share, amounting to $46.6 million. RIL has acquired 31 lakh newly-issued ordinary shares from Eros, the company said in a statement.
On February 20, RIL had announced the deal and said it will buy the stake through a subsidiary at $15 a share, at an 18 premium to the then share price. RIL and Eros will also invest up to ₹1,000 crore each to produce and acquire Indian films and digital originals. Goldman Sachs was the financial advisor to Eros in this transaction. Our Bureau