LOS ANGELES, Dec. 7, 2021 /PRNewswire/ -- The Najafi Companies
("Najafi") today announced it had entered into a definitive
agreement to acquire STX Entertainment ("STX Entertainment") from
Eros STX Global Corporation ("ErosSTX"). The transaction is
expected to close by the end of January
2022.
At the closing of the transaction contemplated by the purchase
agreement, an affiliate of Najafi will acquire STX Entertainment
through the purchase of all of the issued and outstanding shares of
common stock of a parent entity of STX Entertainment and a
wholly-owned subsidiary of ErosSTX.
Najafi's acquisition will refinance the company's debt and provide
a significant investment in growth.
Najafi has exclusively partnered with The Forest Road Company, a
global specialty finance and distribution platform with deep
expertise across the media and entertainment ecosystem. The
transaction is subject to customary closing conditions
"This is a complicated, international public company carve-out
transaction, and after countless hours over the past several
months, we are thrilled to announce this new chapter with STX,"
said Jahm Najafi, Founder and CEO of
The Najafi Companies. "First and foremost, we believe in the power
of storytelling and fostering an entertainment studio that is
artist-friendly and supportive of storytellers. We are also happy
to exclusively partner with The Forest Road Company on this new and
multi-faceted endeavor given their expertise and partnership
approach."
About The Najafi Companies
The Najafi Companies is an entrepreneurially driven private
investment company founded by Jahm Najafi in 2002. The
Company makes investments across industries, with significant
holdings in consumer, media, brands, ecommerce, tech and sports.
The Najafi Companies is not a fund and does not manage
third-party capital. By utilizing
its own capital, the team is empowered to be extremely selective,
think long-term, move quickly and operate in true alignment with
management. Their passion is to invest, acquire businesses and
create value in areas that are underserved or undergoing rapid
transformation. And the Company's mission is to "do well and do
good," and partner with world-class, entrepreneurial teams. Najafi
is based in Phoenix with offices in Los
Angeles and New York. To learn more,
visit www.najafi.com
About Eros STX Global Corporation
Eros STX Global Corporation (NYSE: ESGC) is a global
entertainment company that acquires, co-produces and distributes
films, digital content and music across multiple formats such as
theatrical, television and OTT digital media streaming to consumers
around the world. Eros International Plc changed its name to Eros
STX Global Corporation pursuant to the July
2020 merger with STX Entertainment, merging two
international media and entertainment groups to create a
global entertainment company with a presence in over 150
countries. ErosSTX delivers star-driven premium feature film and
episodic content across a multitude of platforms at the
intersection of the world's most dynamic and fastest-growing global
markets, including US, India,
Middle East, Asia and China. For further information, please visit
ErosSTX.com.
About The Forest Road Company
The Forest Road Company is a specialty finance
platform that owns, operates and invests in exceptional companies
that reshape their categories. Providing strategic capital and
operational expertise, Forest Road brings together
businesses in an integrated portfolio that promotes long-term
success and synergy. Between its media & entertainment,
renewable energy, blockchain technology and asset management
businesses, the Company is cultivating an ecosystem
that promotes innovation and creates lasting value. To learn
more, visit www.forestroadco.com
Contact Information
Alissa
Manzoeillo
amanzoeillo@lavidge.com
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SOURCE The Najafi Companies