Eros may sell content biz to Apple; General Atlantic, True North to back MedPlus
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Mumbai-based film production house Eros Group is in talks with tech giant Apple Inc to sell its entire content library of films and music for around $1 billion (Rs 6,366 crore).

Citing people aware of development, The Economic Times reported that Eros is also in discussions with e-commerce major Amazon, which owns over-the-top video service Prime Video, and US-based video streaming service Netflix.

Eros Group is also looking to merge the NYSE-listed Eros International Plc with the Indian business, Eros International Media Ltd, by the end of this fiscal year to create a single listed entity, the report added.


Private equity firms General Atlantic and True North are in an advanced stage of talks to jointly invest around $200 million in Hyderabad-based MedPlus Health Services Pvt. Ltd to pick up a 69% stake in the company.

Mint reported, quoting two people aware of development, that the deal will see the two funds buying out the stakes of three existing investors of MedPlus.

Mount Kellett holds a 49% in MedPlus through its arm MKCP Direct Investments (Mauritius) IV Ltd, TVS Capital’s TVS Shriram Growth Fund I owns 10.59% and Piramal-led India Venture Trust Fund-I holds 9.09%, according to VCCEdge, the financial data research platform of News Corp VCCircle.

In 2011, Mount Kellett, TVS Capital and India Venture Advisors had invested in the company, and was looking to exit their investments for a long time.

The report also said that the General Atlantic-True North partnership will help tide over the problem of foreign direct investment restriction of 51% in multi-brand retail, as True North has a domestic investment vehicle and can bring in the money through it.

MedPlus had been looking to raise funds since 2015. In March 2016, VCCircle had reported that the company was in final talks to seal a PE funding deal.

In 2015-16, MedPlus had registered a consolidated net profit of Rs 9.05 crore on total income of Rs 1,741 crore.

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