New Delhi, Jan. 5 -- Excel Entertainment, the production house owned by Farhan Akhtar and Ritesh Sidhwani, achieved a landmark on Monday as the company is set to enter into a partnership with Universal Music Group. The historic minority-stake deal is the biggest for any production house.

Under the deal, Excel Entertainment's value will cross Rs.2,400 crore and will accelerate the Farhan Akhtar-owned banner, while also strengthening Universal Music India's domestic operation in a high- growth and strategically important market.

Both the banners have been in talks for months. This collaboration also allows Universal to strengthen its presence in the Indian film market, according to a press release.

UMI will become a significant minority ...