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UTV to Buy 30 Percent More in Indiagames for 
94.56cr
Tuesday, 11 October 2011, 17:38 IST
Bangalore:Media and entertainment firm UTV Software Communications will increase its shareholding in Indiagames by acquiring additional 30.02percent stake in the company for 
94.56 crore.
"The company has entered into definitive agreements with the founder promoters and employee shareholders of Indiagames to acquire 30.02% of the fully-diluted equity shares of Indiagames for a purchase consideration of 94.56 crore,"
UTV said in a filing to the BSE. The acquisition, when completed, will increase UTV's stake in Indiagames from 56% to 86.02percent on a
fully-diluted basis, it said.
Indiagames is engaged in publishing and developing games across various platforms including online and mobile. UTV is negotiating with shareholders to increase its holding in Indiagames to 100%, it added.
"Indiagames' products are developed and published across all major technology platforms and are distributed through partnerships with mobile operators in over 75 countries," according to Indiagames website.
Earlier, UTV had also announced that Walt Disney would buy out promoters' as well as the public stake in UTV for around Rs 2,000 crore. Subsequent to the buy-out of public shareholding by Walt Disney Company, UTV Software Communications will be delisted from both the BSE and National Stock Exchange.
Currently, Walt Disney is the majority shareholder in UTV Software Communications with 20,497,994 equity shares, accounting for a 50.44percent stake.
UTV's scrips were trading at 953.05 per share in the afternoon trade, up 1.03percent from the previous close on the BSE.
Source: PTI
94.56 crore.
"The company has entered into definitive agreements with the founder promoters and employee shareholders of Indiagames to acquire 30.02% of the fully-diluted equity shares of Indiagames for a purchase consideration of 94.56 crore,"
UTV said in a filing to the BSE. The acquisition, when completed, will increase UTV's stake in Indiagames from 56% to 86.02percent on a
fully-diluted basis, it said.
Indiagames is engaged in publishing and developing games across various platforms including online and mobile. UTV is negotiating with shareholders to increase its holding in Indiagames to 100%, it added.
"Indiagames' products are developed and published across all major technology platforms and are distributed through partnerships with mobile operators in over 75 countries," according to Indiagames website.
Earlier, UTV had also announced that Walt Disney would buy out promoters' as well as the public stake in UTV for around Rs 2,000 crore. Subsequent to the buy-out of public shareholding by Walt Disney Company, UTV Software Communications will be delisted from both the BSE and National Stock Exchange.
Currently, Walt Disney is the majority shareholder in UTV Software Communications with 20,497,994 equity shares, accounting for a 50.44percent stake.
UTV's scrips were trading at 953.05 per share in the afternoon trade, up 1.03percent from the previous close on the BSE.
Source: PTI