Anil Ambani signs deal for Hollywood debut

In one of the largest deals in global cinema in recent years, Anil Ambani's Reliance Big Entertainment and Hollywood filmmaker Steven Spielberg on Wednesday announced $825-million funding for their Los Angeles-based production house Dreamworks Studios to make six films a year for global audiences.

Ambani and Spielberg, in a joint global conference call from New York, said the movies produced by Dreamworks will be distributed by Walt Disney globally, while the exclusive rights for India will be with Reliance Big Entertainment.

"Clearly, the outlay of $825 million is what we are aiming at in the next three years - $325 million will be in the form of equity, $150 million will come from Disney, while the rest will come from banks and others," Ambani said.

"There is no scaling up or scaling down of investment. We will begin with $825 million and this is the largest in recent times," said the Mumbai-based industrialist, whose aides had earlier indicated an investment outlay of as much as $1.5 billion for Dreamworks.

Spielberg said he was looking forward to films produced by Dreamworks as also to visit India soon to meet with filmmakers, scriptwriters and actors to see how they can all collaborate.

"We have a golden opportunity to have a better control over our product," he said, alluding to the strained relationship Dreamworks faced after it was sold to Viacom's Paramount in 2006 for $1.6 billion.

"I am very excited that we are in business again and we are independent of any motion picture studio. Now, we feel we have the independence in our partnership with Reliance," Spielberg said.

Some of the films that will be produced first include 39 Clues, Cowboys and Aliens, Dinner For Schmucks, Motorcade and Hereafter in a mix of genres including thrillers, action, comedy and family drama.

Courtesy:ibnlive.com

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IPO for Reliance Power coming soon!

With markets on a roll Anil Ambani has made quite a killing not just for himself but for investors as well.

Now he is planning a new Initial Public Offering (IPO) for his power subsidiary and as expected it is going to be in billions.

Reliance Energy plans to increase its capacity to 25,000 MW over the next 5-7 years. To fulfill its ambition the company is now seeking a helping hand from Dalal Street.

According to sources, Reliance Energy is planning an IPO for its subsidiary Reliance Power. The company plans to file DRHP of Reliance Power soon and is planning to raise $2.5-3 billion. It has also appointed Enam, JM Financial, JP Morgan, Kotak and UBS as merchant bankers.

Reliance Power has been asked by the government to hand over Sasan project within the next four years. The estimated cost for Sasan project is seen at Rs 20,000 crore. The buck does not stop here, the company has also lined up some mega investment plans.

Reliance Power is planning to invest Rs 40,000 crore in ultra mega power projects. It is actively considering to bid for 4,000 MW Krishnapatnam project also.

Reliance Energy stock has gained 148 per cent in the last one year outperforming the benchmark indices by a wide margin. Brokerages after the sharp run-up have turned cautious.

However, many believe there is huge potential of value unlocking within the stock if the management decides to hive off EPC business into separate entity.

Content courtesy:NDTV