Reliance Industries Limited Completed the acquisition of 13.01% stake in Viacom 18 Media Private Limited from Paramount Global.
November 13, 2024
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Reliance Industries Limited (NSEI:RELIANCE) entered into binding agreement to acquire 13.01% stake in Viacom 18 Media Private Limited from Paramount Global (NasdaqGS:PARA) for INR 42.9 billion on March 13, 2024. Upon completion of the acquisition Reliance Industries Limited will be increasing the holding of the Company in Viacom18 to 70.49% (on a fully diluted basis). Upon completion of the steps, the JV will be controlled by the Company and owned 16.34% by the Company, 46.82% by Viacom18 and 36.84% by Disney. This transaction is subject to regulatory approvals and completion of another transaction. Goldman Sachs (India) Securities Private Limited acted as financial advisor to Reliance Industries Limited.
Reliance Industries Limited (NSEI:RELIANCE) Completed the acquisition of 13.01% stake in Viacom 18 Media Private Limited from Paramount Global (NasdaqGS:PARA) on November 14, 2024.
Reliance Industries Ltd is a diversified group organized around 6 areas of activity:
- refining of petroleum products (58.4% of net sales): liquefied petroleum gas, propylene, naphtha, gasoline, kerosene, etc. At the end of March 2021, the group operated a refinery in India. The group also produces petrochemicals (polyethylene, polypropylene, polyvinyl chloride, polyester, purified terephthalic acid, paraxylene, ethylene, olefins, benzene, butadiene, acrylonitrile and caustic soda);
- distribution of consumer products (28.3%): distribution of food products, clothing and accessories, consumer electronics, etc. through a network of 12,711 stores in India;
- digital services (5.1%);
- exploration and production of crude oil and natural gas (0.3%);
- financial services (0.2%);
- other (7.7%): telecommunications and media services, textile manufacturing, etc.
India accounts for 61.5% of net sales.
RELIANCE INDUSTRIES LTD 
