Key Points
Nita Ambani, founder and chairperson of Reliance Foundation, is likely to become the chairperson of Star India-Viacom18 merged entity, while Bodhi Tree promoter Uday Shankar could be named the vice chairperson, people privy to the development told ET...
Ambani has been deeply involved in Reliance's sports initiatives including the Indian Premier League team, Mumbai Indians, and Indian Super League, which incidentally is a 65:35 JV between Reliance and Disney..
The contours of the deal have been finalised and it is expected to be announced on Wednesday, the people said.. "Nita Ambani and Uday Shankar will be the chairperson and vice chairperson of the merged entity," said one of the persons cited above..
The sole board seat given to Bodhi Tree is likely to be taken up by its investor, Qatar Investment Authority (QIA), the person said.. INQ Holding LLC, a wholly-owned subsidiary of QIA, had last year invested in Bodhi Tree Systems...
Reliance is expected to invest $1-2 billion, primarily for infusing growth capital into the merged entity and the buyout of Paramount's stake...
