RIL expects Star-Viacom18 merger deal closure in Q3
Reliance Industries Limited (RIL)-owned Viacom18 and Walt Disney's Star India are expected to complete their merger by the third quarter of this financial year, pending additional approvals, according to a regulatory filing from Reliance Industries Limiter (RIL).
In its quarterly report, RIL noted that Viacom18 and Star India have already received conditional approval from the Competition Commission of India (CCI) for their proposed merger.
However, the CCI has yet to issue its detailed order regarding the Star-Viacom18 merger. The competition regulator approved the transaction on 28th August.
Additionally, the Mumbai bench of the National Company Law Tribunal (NCLT) has sanctioned the scheme of arrangement between the two companies.
«The companies are in the process of obtaining other requisite approvals for the completion of the transaction and transaction closure is expected in 3Q FY 25,» RIL said in its filing today.
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