Reliance Capital has started process of unlocking value from investments in non-core sectors to focus on its key financial services businesses. The company, which announced the merger of its global film and media business held through Reliance MediaWorks with Prime Focus, is in discussions for more such deals outside the financial services segment.
The proposed transaction reflects a significant step forward in the company’s strategy of unlocking value from its investments in sectors other than financial services.
The film and media services business of Reliance MediaWorks has been combined with Prime Focus, in which it will also get a 30.2% stake. Reliance Capital used to hold an almost 15% stake in Prime Focus, which was offloaded in 2006.
Reliance Capital is a systemically important non-deposit taking NBFC. The company is part of the Reliance group led by Anil Dhirubhai Ambani. It currently operates as the holding company for the group’s entities in the financial services sector.
