Report: Reliance-Disney merger talks in final stage ahead of Feb 17 deadline
As per the report, February 17 is the exclusivity period deadline to conclude the bilateral negotiations
Mukesh Ambani-led Reliance Industries Limited (RIL) is inching closer to acquiring Walt Disney Co, as the two sides are in the final stage of negotiations to finalise their mega stock-and-cash merger to create what will be India's largest business and entertainment entity,
As per the report, February 17 is the exclusivity period deadline to conclude the bilateral negotiations, and RIL plans to inject up to $1.5 billion cash in the proposed venture.
Reliance to own 60%
RIL, whose chairperson, Ambani, has the highest net worth in Asia, and eleventh-highest globally (real-time, as per both Bloomberg and Forbes), will have 60% ownership of the combined entity, while the sum 40% will lie with Walt Disney Co.
Of Reliance's 60% shares, Viacom18 alone will get 42-45%, making the latter the single-largest shareholder in the new entity.
Founded in November 2007, Viacom18 is a joint venture between US-based Viacom (now Paramount Global; 13.01%) and Ambani's TV18 (73.91%), and Bodhi Tree Systems.
