Disney Set To Sell Indian Operation To Reliance Industries In Deal Valuing Biz At $10B — Report
deadline.comDisney could be offloading its Indian operation in a deal valuing the business at $10B. Bloomberg News reported that a deal to sell a majority stake to rival Reliance Industries was nearing completion.
Citing unnamed sources close to the agreement, it reported Reliance values the assets it would acquire at between $7B-$8B, meaning Disney India is worth around $10B in total.
This follows months of rumors Disney would get rid of its Indian operation as its U.S. flagship operation reconfigures its global operation and attempts to bring down costs.
News it could be sold or turned into a joint venture first emerged in July. Disney has also held talks with Indian billionaires Gautam Adani and Kalanithi Maran, who owns Indian network Sun TV, along with private equity firm Blackstone, according to various reports in recent weeks, but it appears Reliance to set to win the race.
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