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Eros Now in talks to sell 10% stake to Temasek unit
MUMBAI: Eros International Plc is planning to unload a minority stake in its streaming platform Eros Now. Fullerton Fund Management, a unit of Temasek Holdings Pte, is in talks to buy 10 per cent of Eros Now.
Eros officials declined to offer their comments on the development.
The deal, if complete, would value Eros Now at $800 million, according to Bloomberg. Eros, which is into film production and distribution, has a market value of about $1.3 billion.
Eros Now has about 19 million subscribers.
Eros Now would remain unlisted within the parent company, Bloomberg reported. Fullerton already owns about 10 per cent of Eros International, but it would not hike its stake in the parent company through the Eros Now Investment, the report added. Temasek holds about 4.5 per cent stake in Eros International.
The deal will have positive implications for Eros’ India outfit, which is also a listed company. The India entity will benefit from its monetisation of content through Eros Now.