TIDMEROS
Eros International PLC
12 February 2013
EROS INTERNATIONAL PLC ("Eros" or the "Company")
Eros and Endemol India announce a strategic alliance
to co-produce 3 films and television content
London, February 12, 2013: Eros, the leading global company in
the Indian film entertainment industry, and Endemol India,
producers of some of the most spectacular television content, today
announced a strategic alliance to co-produce three feature films as
well as original programming for television. The collaboration has
earmarked US$ 18.5 million to fund these 3 productions.
As a part of the three film deal, Eros and Endemol India will be
co-producing an action comedy which will be a remake of a South
Indian blockbuster, an original romantic comedy and a comic caper.
Targeted at Bollywood enthusiasts across genres, the first film to
be made will be a romantic comedy, which will go on floors later
this year.
With Eros recently announcing their foray into premium
television with HBO, television formats and original programming
for television is another area that Eros and Endemol will
collaborate on and many of Eros owned film Intellectual Property
Rights will be considered for adaptation for the television format
and vice versa for Endemol owned Intellectual Property Right.
Commenting on the alliance, Jyoti Deshpande, Group CEO and
Managing Director, Eros said, "We are really excited to be
partnering with Endemol India. We both are IP driven companies and
Eros having been market leaders in the filmed entertainment arena,
while film co-production has its natural synergies, we will also
create original high quality compelling television content as
digitization takes Indian television into the premium subscription
phase. The alliance is founded on the coming together of our
respective core competencies in film and television".
Deepak Dhar, CEO Endemol India added "We are very happy to
announce our association with Eros. After successfully producing
content for some of the biggest format shows in the country, we are
expanding our portfolio to films and are delighted to partner with
leaders in this space. Through this association, we look forward to
making a mark on the big screen as well."
With Endemol India's expertise in large scale format production
such as 'Bigg Boss' and 'Fear Factor', combined with Eros
International's stronghold in the film industry with recent hits
such as 'English Vinglish' and 'Vicky Donor' and a library of close
to 2,000 films, both production houses are set to raise the bar in
cinematic excellence. This alliance will also be extended to the
small screen with Endemol India exploring new formats with Eros
International to create high end scripted content for the Indian
television audiences.
While Endemol India is widely known for its versatile formats
across genres, Eros International has a vast film library. This
association between the two well established production houses
marks the beginning of coming-of-age content creation.
For further information, please contact:
Eros International Plc
Andrew Heffernan
Chief Financial Officer
T: +44 (0) 20 7258 9892
Sean Hanafin
Chief Corporate & Strategy Officer
T: +44 (0)20 7258 9909
Jamie M.M. Kirkwood
Group Communications & Investor Relations
T: +44 (0)20 7258 9906
Investec Bank plc
Nominated Adviser & Joint Broker
Jeremy Ellis / Patrick Robb / Carlton Nelson
T: +44 (0) 20 7597 5000
Peel Hunt LLP
Joint broker
Richard Kauffer / Daniel Harris
T: +44 (0) 20 7418 8900
About Eros International Plc
-- Eros co-produces, acquires and distributes Indian language
films, in multiple formats worldwide
-- In 2006, Eros listed its shares on the AIM Market of the London Stock Exchange
-- In October 2010, Eros International listed its Indian
subsidiary Eros International Media on the BSE & NSE in
India
-- Eros operates in over 50 countries, with offices throughout
India, the United Kingdom, USA, UAE, Singapore, Australia, Fiji and
the Isle of Man
A registration statement relating to Eros' A Ordinary Shares has
been filed with the United States Securities and Exchange
Commission, but has not yet become effective. These securities may
not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. This press release shall
not constitute an offer to sell or a solicitation of an offer to
buy nor shall there be any offer or sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such jurisdiction.
Some of the information presented in this press release and in
related comments by Eros' management contains forward-looking
statements. In some cases, these forward-looking statements are
identified by terms and phrases such as "aim," "anticipate,"
"believe," "feel," "contemplate," "intend," "estimate," "expect,"
"continue," "should," "could," "may," "plan," "project," "predict,"
"will," "future," "goal," "objective," and similar expressions and
include references to assumptions and relate to Eros' future
prospects, developments and business strategies. Similarly,
statements that describe Eros' strategies, objectives, plans or
goals and statements regarding the proposed offering and the
anticipated costs of these transactions are forward-looking
statements and are based on information available to Eros as of the
date of this press release. Forward-looking statements are subject
to risks, uncertainties and assumptions that could cause actual
results to differ materially from those contemplated by the
relevant statement. Such risks and uncertainties include a variety
of factors, some of which are beyond Eros' control, including
market conditions. Information concerning these and other factors
that could cause results to differ materially from those contained
in the forward-looking statements is contained under the caption
"Risk Factors" in Eros' Registration Statement on Form F-1 filed
with the U.S. Securities and Exchange Commission. Eros undertakes
no obligation to revise the forward-looking statements included in
herein to reflect any future events or circumstances, except as
required by law. Eros' actual results, performance or achievements
could differ materially from the results expressed in, or implied
by, these forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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