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Reliance Industries Ltd. (RIL) and Walt Disney Co. complete their Rs 70,000-crore merger of India's entertainment business, forming Star India Pvt, valued at Rs 70,352 crore.

Following the transaction, RIL holds a 16.34% stake in the joint venture, Viacom18 holds 46.82%, and Disney holds 36.84%.

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The transaction values the JV atRs 70,352 crore (~US$ 8.5 billion) on a post-money basis, excluding synergies. At the closing of the transactions noted above, the JV is controlled by RIL and owned ...