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Walt Disney, Reliance merge businesses in India
Business

Walt Disney, Reliance merge businesses in India

Published February 28,2024


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The Walt Disney Company introduced Wednesday a strategic three way partnership with Mumbai-based multinational conglomerate Reliance Industries Limited.

The three way partnership will mix the companies of Disney-owned Star India with Viacom18, wherein Reliance Industries has a majority stake.

“As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited through a court-approved scheme of arrangement,” Disney stated in a press release.

While Reliance has agreed to speculate $1.4 billion into the three way partnership for its development technique, the transaction values the enterprise at $8.5 billion, it added.

After the completion of the transaction, the three way partnership can be managed and owned 16.34% by Reliance, 46.82% by Viacom18, and 36.84% by Disney.

Source: www.anews.com.tr

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