S&R, Khaitan, Kirkland, Gibsons create $1bn valuation Bolly-Hollywood studio with Eros, STX merger

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.

— Bloomberg

S&R Associates advised Eros International PLC, which is listed on the New York Stock Exchange, led by a corporate team of partnersRajat Sethi and Sudip Mahapatra and associatesVidhi Sharma, Gunit Kaur and Tanaya Desai. On competition issues advised competition practice headSimran Dhir, and associatesDhruv Agarwal and Ishika Rout.

Khaitan & Co was instructed for STX, with a core team of partnerMayank Singh, principal associateSanchit Agarwal and associateAkarshita Dhawan, with assistance from the following teams: securities law aspects: partnerArindam Ghosh, principal associateAbhishek Dadoo and associateAnvita Mishra; competition law aspects: partnerSagardeep Rathi, principal associatePranjal Prateek and associateAlisha Mehra; litigation: partnerTomu Francis and partnerRaj Panchmatia; indirect tax law aspects: executive directorDinesh Agarwal and senior associatePranay Sahay; intellectual property law aspects: partnerAadheesh Nargolkar, partnerSmriti Yadav; due diligence: partnerHarsh Walia, principal associateShobhit Chandra, associateAditya Ayachit; associateTanmaya Negi; associateYashodhara Chauhan.

Update 18 April 2020: According to Khaitan’s press release, it “advised and assisted the Client on the following: (i) India level implications of the deal from a Takeover Code perspective; (ii) competition law aspects; (iii) diligence and finalisation of the transaction documents to the extent it related to Eros India; and (iv) assistance on certain indirect tax issues, intellectual property and data privacy related aspects”.

Kirkland Ellis acted for STX.

Gibson Dunn acted for Eros.

2020-04-17

Deal value: Confidential

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