Eros set for $100 mil buying spree

Distrib secures credit facility from CitiGroup

Bollywood distrib Eros Intl. has secured a $100 million credit facility from Citigroup Global Markets.

The five-year facility, announced Tuesday, will help the distrib with its acquisitions.

Kishore Lulla, chairman and CEO of Eros, said, “As we have demonstrated with our recent acquisition of Aynagaran Intl. (a leading Tamil-language film company) and commitment to invest in the development of that business, we believe that many high-quality opportunities exist within the Indian entertainment content sector for us to create value for our shareholders.”

Eros previously announced a linkup with White Feathers on a distribution and acquisition deal for 15 pics with a total budget of $60 million (Daily Variety, Aug. 29).

The distrib will release Bobby Deol starrer “Nanhe Jaisalmer” on Sept. 14.

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