Reliance Industries nears mega deal to buy Disney’s India business

Reliance Industries, led by Asia's richest man, Mukesh Ambani, is finalising a cash and stock deal to acquire Walt Disney Co.'s India operations.

 

Rather than selling the Disney Star subsidiary in pieces as was originally thought, the $10 billion+ US entertainment corporation might sell the majority of its stake. Reliance values the assets at $7 and $8 billion, according to media reports.

 

A portion of Reliance's media businesses will merge into Disney Star; the purchase might be made public as early as next month.

 

As per the proposal, Disney is expected to maintain a minority interest in the Indian company even after the completion of any cash and stock exchange transaction. No final decision has been made on the deal or the valuation, and Disney could still decide to hold onto the assets for a bit longer.

 

Even as Disney Star struggled with sliding subscriber numbers, the media group hasn’t ceded the market and had been making investments. It has been weighing other options for the business, including an outright sale or setting up a joint venture.

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