Disney is nearing a deal to sell its India business to Reliance Industries, Bloomberg has reported. It will be a cash and stock deal.
After the deal, the RIL is expected to enjoy a controlling stake in the Disney Star business, which as an estimated valuation of $10 billion. The US entertainment giant will end up holding minority stake in the business. Reliance views the assets at between $7 billion to $8 billion, reported Bloomberg citing information shared by people familiar with the matter.
The deal could be announced as early as next month and Disney will likely hold on to a minority stake in the Indian business, the report said. There is also a possibility of merger if a few Reliance's media units with Disney Star as per the deal, reported BB referring to sources.
No final decision has been made on the deal or the valuation and Disney could still decide to hold onto the assets, Bloomberg reported.