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STX Entertainment Sold by Eros to Najafi Companies for $173 Million

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thewrap.com
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STX Entertainment will split off from Eros STX Global Entertainment Company and be acquired by The Najafi Companies for $173 million, Eros announced Tuesday.

The closing is expected around January 2022, pending “customary closing conditions.” The purchase agreements gives Eros a “go-shop period,” per a release, during which time the board (with help from financial advisor Lazard) will solicit other proposals for 45 days.

Eros will pay a termination fee of $4.5 million in addition to $2 million that Najafi funded as a deposit.Najafi has parnered with the Forest Road Company as its lender.

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