marvel44
News Columnist
- Joined
- 11 Nov 2019
- Messages
- 954
- Reaction score
- 2,271
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.
deadline.com
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.
STX Separating From Eros As The Najafi Companies Sets $173M Agreement To Acquire Hollywood Studio
STX Entertainment, the studio built by Robert Simonds, has freed itself from an ill-starred 2020 merger with Mumbai-based Eros Intl. Entering a definite agreement to acquire STX for $173 million is Jahm Najafi’s Phoenix-based The Najafi Companies. The takeover could be an interim step on the way...
deadline.com
