Gets an indicative non-binding proposal to acquire a substantial minority stake in Reliance MediaWorks’ Film and Media Services division
BestMediaInfo Bureau | Delhi | July 18, 2012
Reliance MediaWorks Limited has signed Term Sheet with a leading International Private Equity Fund, in terms of which the potential Investor has provided an indicative non-binding proposal to acquire a substantial minority stake in Reliance MediaWorks’ Film and Media Services division for an investment of Rs. 605 crores.
Reliance MediaWorks and the potential Investor have agreed to exclusivity for the next 90 days. The proposed investment is subject to completion of customary detailed due-diligence, definitive documentation, completion of subsidiarisation of the film and media services business, and approvals as may be necessary.
Reliance MediaWorks has a leading and comprehensive presence in Film and Media Services: Motion Picture Processing and DI; Film, Audio Restoration and Image Enhancement; 3D; Digital Mastering: Studios and Equipment rentals; Visual Effects; Animation; Broadcast and TVC Post Production with presence across India, USA and the UK.
Reliance MediaWorks is also the first Indian Company to be awarded an Academy Award, winning this recognition at the Academy’s Scientific and Technical Awards 2012 for its proprietary image processing technology.