Mumbai: Viacom18 today announced that following the sanction by NCLT Mumbai, the Scheme of merger of Reliance Storage Limited with itself has become effective and Viacom18 has allotted shares to Bodhi Tree Systems and RIL group entities as consideration for the Scheme of merger.
Upon consummation of this merger, (i) the integration of JioCinema into Viacom18 has been completed; and (ii) Viacom18 has access to Rs. 15,145 crore of cash for its planned growth, comprising Rs. 10,839 crore contributed by RIL group entities and Rs. 4,306 crore contributed by Bodhi Tree Systems. Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, is an investor in Bodhi Tree Systems.
As a consequence of the closing of the transactions noted above, the shareholding of Viacom18 will be:
- Equity: TV18 – 50.994%; Paramount Global – 48.994%; Bodhi Tree – 0.011%
- CCPS: RIL group entities – 82.2%; Bodhi Tree – 17.8%
- Fully diluted basis: RIL group entities – 60.37%; TV18 – 13.54%; Bodhi Tree – 13.08%; Paramount Global – 13.01%
Paramount Global will continue as a shareholder and supply Viacom18 its premium global content. This unique partnership brings together India’s biggest conglomerate, two of the most recognized media industry veterans and a leading global media and entertainment company.
