Viacom18 merges with Reliance unit, integrates JioCinema
By MYBRANDBOOK
Viacom18 has completed the merger with Reliance Storage Limited which was sanctioned by the National Company Law Tribunal (NCLT), Mumbai. With the completion of this merger, JioCinema's integration into Viacom18 has been completed successfully. Viacom18 has allotted shares to Bodhi Tree Systems and Reliance Industries Limited (RIL) group entities as consideration for the merger scheme.
Viacom18 has also completed the integration of JioCinema with itself, a crucial acquisition during the ongoing Indian Premier League season. According to the release, the company has access to Rs 15,145 crore worth of cash for planned growth, while Rs 10,839 crore has been contributed by Reliance Industries' group entities and Rs 4,306 crore by Bodhi Tree.
Now, Viacom18's parent TV18 Broadcast Ltd. holds 50.99% equity stake, while joint venture partner Paramount Global holds 48.99% equity. Bodhi Tree has 0.01% equity. Reliance Group entities hold 82.2% compulsorily convertible preference shares and Bodhi Tree holds the remaining 17.8%. RIL group entities now have 60.37% shareholding, TV18 has 13.54%, Bodhi Tree has 13.08%, and Paramount Global holds 13.01% stake.
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