All. HC: Collector Being Quasi-Judicial Authority Has No Statutory Power to Review/Recall Order  ||  All HC: High Court Appointing Arbitrator has Power to Extend Arbitrator's Mandate u/s 29A of A&C Act  ||  SC: Centre Recommended to Frame Comprehensive Sentencing Policy  ||  Supreme Court: Court Which Granted Bail Can Cancel it if Serious Allegations Made  ||  Supreme Court: SEZ Developers Must Apply for Recognition and be Scrutinized  ||  SC: Comments to be Made Within Public View to Punish Person for Casteist Insults Under SC/ ST Act  ||  P&H HC: Bail Petition Rejected of Travel Agent Accused of Defrauding a Man for Processing Visa  ||  SC: Conviction for Stalking Quashed Due to Marriage Between Convict and Complainant  ||  All HC: S. 33-G UP Sec. Education Act a Benefi. Prov. for Teachers Serving for More Than 2 Decades  ||  All HC: SI Fixed at 6% p.a On Excess/Less Determination of Provi. Tariff Ultra Vires Electricity Act    

CCI approves proposed combination involving Eros Plc, STX and Marco- (Press Information Bureau) (08 Jul 2020)

MANU/PIBU/2056/2020

MRTP/ Competition Laws

The Competition Commission of India (CCI) approves the proposed combination involving Eros International Plc (Eros Plc), STX Film works Inc ("STX") and Marco Alliance Limited (Marco).

Eros Plc is a company incorporated in the Isle of Man, with its shares listed on the New York Stock Exchange. It is a global Indian entertainment company that acquires, coproduces, and distributes films (including Hindi, Tamil, and other Indian regional language films) across all available formats such as cinema, television, and digital new media. Eros Plc also owns and operates the Over-The-Top platform 'Eros Now'.

STX is a fully-integrated global media company specialising in the production, marketing and distribution of talent-driven motion pictures, television and multimedia content. STX has an indirect presence in India by way of licensing of certain films to Indian distributors. Marco is a company organised and existing under the laws of the British Virgin Islands and is an investment holding company. Marco is controlled by Hony Capital, which is an investment management firm that specialises in private equity buyout and expands into areas including real estate, hedge fund, mutual fund and innovation investment.

In a two-step transaction, it is proposed that an indirectly wholly owned subsidiary of Eros Plc will merge into STX, with STX continuing to be the surviving entity. In the second step, the Hony Group, through Marco, an existing investor in STX, will subscribe to certain shares of the merged entity.

With the completion of the transaction, it is expected that Eros, STX and Marco will directly or indirectly acquire an economic and voting interest along with certain other rights, in the combined entity.

Tags : EROS PLC   STX   COMBINATION   APPROVAL  

Share :        
Eros Plc is a company incorporated in the Isle of Man, with its shares listed on the New York Stock Exch... For read more news from newsroom.manupatra.com"data-action="share/whatsapp/share" class="ic_wtsp-grid">

Disclaimer | Copyright 2024 - All Rights Reserved