Deals
Bollywood Meets Hollywood With Marriage of Eros and STX
- STX films include “Hustlers” starring Jennifer Lopez
- Deal has a valuation of more than $1 billion including debt
Bollywood actors Riteish Deshmukh and Nargis Fakhri during a shoot for the Eros International film Banjo in 2016.
Photographer: Pramod Thakur/Hindustan Times via Getty Images
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Indian movie producer Eros International Plc is merging with privately-held U.S. filmmaker STX Entertainment in an all-stock deal that brings together Bollywood and Hollywood.
The combined company, to be known as Eros STX Global Corp., will be publicly traded and have a valuation of more than $1 billion, including debt, according to people familiar with the details, who asked not to be identified as the matter is private. Eros’s New York-listed stock jumped as much as 77%, and closed a $3.05 in New York.