STX Entertainment and Indian movie major Eros International have closed their stock-for-stock merger, forming film and TV company Eros STX Global Corp., which looks to play in Hollywood, Bollywood and China.
The combined company "creates a financially robust global studio leader across three continents with strategic content and distribution partnerships for an unprecedented global footprint," Eros said in a statement on Thursday, as it announced completion of the deal.
Eros added the combined entity will be capitalized with $125 million of new equity funding and a revamped $350 million JP Morgan-led credit facility.
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