Khaitan & Co Represented Reliance Industries And Viacom18 In $8.5 Billion Joint Venture With The Walt Disney Company
Khaitan & Co successfully represented Reliance Industries Limited and Viacom18 Media Private Limited before the Competition
Khaitan & Co Represented Reliance Industries And Viacom18 In $8.5 Billion Joint Venture With The Walt Disney Company
Khaitan & Co successfully represented Reliance Industries Limited and Viacom18 Media Private Limited before the Competition Commission of India (CCI) in the creation of a joint venture for their entertainment business in India with The Walt Disney Company. This joint venture, valued at USD 8.5 billion, marks one of the largest deals in the Indian media and entertainment sector.
The combination received conditional Phase I approval from the CCI on 27 August 2024, a critical milestone for a merger of this magnitude. This approval paves the way for the creation of an $8.5-billion entertainment network, marking the largest deal in India's media and entertainment sector.
The CCI announced the approval, stating, "The Commission approves the proposed combination involving Reliance Industries Limited, Viacom18 Media Private Limited, Digital18 Media Limited, Star India Private Limited, and Star Television Productions Limited, subject to the compliance of voluntary modifications,” in a post on X (formerly Twitter) on Wednesday.
Khaitan & Co's transaction team was led by, Partners Anisha Chand and Anshuman Sakle, Principal Associates Soham Banerjee and Alisha Mehra, and Associates Rishabh Vohra and Yatharth Vardhan Singh.
Shardul Amarchand Mangaldas & Co served as co-counsel for Reliance Industries and Viacom18.
The Walt Disney Company and Star India were represented by AZB & Partners.