Reliance Industries Ltd (RIL) on Tuesday said it will buy a 5% stake in NYSE listed Eros International Plc (Eros) through a subsidiary. RIL will pay $15 per Eros International share, which represents an 18% premium to Friday’s closing price. The two parties will invest up to Rs1,000 crore each to produce and acquire Indian films and digital originals across all languages, RIL said.
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