France's Banijay Group SAS completed its $2.2 billion acquisition of Endemol Shine Group from The Walt Disney Co. and Apollo Global Management Inc.

The deal allows Banijay to grow its Banijay Rights Ltd. unit and build a portfolio of more than 88,000 hours of multi-genre premium entertainment brands, according to a July 3 press release. The transaction sees Banijay become the largest independent production studio.

Banijay Group CEO Marco Bassetti will lead the combined company, with Endemol Shine Group CEO Sophie Turner Laing to step down from her role, effective July 10.

After closing, 67.1% of the combined group will be owned by Financière LOV-controlled holding company LDH. Vivendi SA will own the remaining 32.9%.

Banijay Group raised about €2.38 billion in February to finance the transaction after it entered into the agreement to acquire Endemol Shine Group in October 2019.

Rothschild and PJ Solomon acted as financial advisers to Banijay Group. Meanwhile, LionTree Advisors LLC acted as financial adviser to Endemol Shine Group, The Walt Disney Co. and Apollo funds. Deutsche Bank AG also acted as financial adviser to Endemol Shine Group.