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Enjoyment titan Walt Disney and Indian conglomerate Reliance will merge their Indian firms, the U.S. leisure giant declared Wednesday.
The corporations will be combining their respective Star India and Viacom18 models into the freshly-developed Star India joint enterprise, valued at roughly $ 8.5 billion on a publish-revenue basis, excluding synergies.
Following the completion of the transaction, Reliance, led by Asia’s richest male Mukesh Ambani, will control the JV and inject $1.4 billion into its development system. The ownership composition will comprise of a 16.38% fascination for Reliance, 46.82% for Ambani’s Viacom18 and 36.84% for Disney.
Ambani’s wife, Nita Ambani will chair the joint venture, though Viacom18 board member Uday Shankar will provide as vice chairperson.
Disclosure: Entities tied to Reliance Industries Chairman Mukesh Ambani have a stake in the mum or dad enterprise of CNBC Television set-18, CNBC’s regional India lover.
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