Disney India-Reliance Industries Merger Nears Binding Agreement
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deadline.comReliance Industries and Disney India are set to sign a binding agreement to merge their assets, according to local reports.
The deal, which has been gestating for the past two months, could be signed this week and will see Reliance’s Ambani family overseeing a merged operation.
The board will be chaired by Nita Ambani, wife of Reliance’s multi-billionaire owner Mukesh Ambani, with former Disney India chief Uday Shankar as vice-chairperson.
Reuters has reported Reliance will have around 51-54% of the business and values Disney’s assets at around $3.5B, much lower than the circa-$16B valuation put on it in 2016.
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