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STX Entertainment separates from EROSSTX ending the merger.

Saichaitanya4496

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STX Entertainment, the studio built by Robert Simonds, has freed itself from Eros after what has been a short and turbulent merger. Entering a definite agreement to acquire STX is Jahm Najafi’s Phoenix-based The Najafi’s Companies. The transaction is expected to close by the end of January 2022. No price at the time of publication was provided for the transaction.

The affiliate of Najafi will acquire STX Entertainment through the purchase of all of the issued and outstanding shares of common stock of a parent entity of STX Entertainment and a wholly–owned subsidiary of ErosSTX. Najafi’s acquisition will refinance the company’s debt and provide a significant investment in growth. Najafi’s rescue comes at a time when STX was facing a repayment of its credit agreement to the tune of $127M.

 
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