STX Entertainment has agreed to a stock-for-stock merger with India's Eros International to form a combined film and television firm
STX Entertainment has agreed to a stock-for-stock merger with India's movie major Eros International to form a combined film and television firm, the companies said Friday.
Post-merger, the firm will have access to $125 million in equity investors, including TPG, Hony Capital and Liberty Global. The companies said that that the combined firm includes $264 million of pro forma net debt and $195 million of pro forma cash balance. Eros STX projects $50 million in cost-saving synergies within its first two years.
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