Eros International Media today said it will acquire 50 per cent stake in Puja Entertainment and Films but did not disclose the amount involved in the deal.
The company has signed a “term sheet to acquire a 50 per cent stake in Puja Entertainment & Films”, Eros International Media said in a BSE filing.
It however did not disclose any financial details of the agreement.
Eros Chairman Kishore Lulla said: “As a studio, we want to continue developing prolific content.”
Puja Entertainment Chairman Vashu Bhagnani said: “Puja films has been in the movie making business for the past 20 years and it is crucial to partner with a global player like Eros to continue making meaningful and profitable cinema.”
Eros stock was trading 3.25 per cent up at 212.75 on BSE in the afternoon session.