Eros to buy 50% stake in Vashu Bhagnani's Puja Films

Under the tie-up, successful titles of 90s, the 'No 1' series including Hero No 1, Coolie No 1 and Biwi No 1 will be remade

Film studio Eros International has entered a strategic alliance with producer Vashu Bhagnani, signed a term sheet to acquire a 50% stake in his film company, Puja Entertainment & Films Ltd.

Under this joint venture, successful titles of the 90s, the ‘No 1’ series including Hero No 1, Coolie No 1 and Biwi No 1 will be the among the first of Vashu Bhagnani films to be remade.

The deal will also allow Eros International access to Puja Entertainment's vast library of all-time hits like Bade Miya Chote Miya, Rehna Hai Tere Dil Main and F.A.L.T.U. In addition to the remakes of some of these all-time hits, several new projects are in the pipeline as well. 

 

Kishore Lulla, Chairman, Eros International said, "This alliance is an extension of the very special association we share with Vashuji. As a studio, we want to continue developing prolific content and through this partnership with a seasoned expert like Vashuji who has produced some of the biggest Bollywood hits, we can present cinema at its entertaining best." 

Vashu Bhagnani said, "It's not just a strategic alliance for Puja Films, it's in fact a culmination of a friendship that goes back more than two decades. Kishore ji and I had wanted to do this for a very long time. Puja Films has been in the movie making business for the past 20 years and it is crucial to partner with a global player like Eros to continue making meaningful and profitable cinema."