Reliance signs non-binding pact with Walt Disney for merger of India business!

As per the report, valuation exercise by independent valuers will officially begin soon. The plan is to create a step-down subsidiary of RIL’s Viacom18 that will absorb Star India via a stock swap, the report added.Reliance is expected to be the larger shareholder with at least 51 per cent, while Disney will own 49 per cent in the merged company. JioCinema will also be part of the deal. RIL is likely to pay cash for the controlling stake, the report stated.

      According to a report in the Economic Times, Kevin Mayer, former Disney executive and current advisor and Manoj Modi, close confidante of Ambani, who have been negotiating the term sheet for months, were present at the meeting.

      As per the report, valuation exercise by independent valuers will officially begin soon. The plan is to create a step-down subsidiary of RIL’s Viacom18 that will absorb Star India via a stock swap, the report added.

      Mukesh Ambani-led Reliance, Disney signed non-binding agreement for merger

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