UTV Software receives approval for selling stake in Hungama TV

UTV Software Communications Ltd has announced that the company has received the approval from Government of India, Ministry of Finance, Department of Economic Affairs, Foreign Investment Promotion Board (FIPB) unit granting its approval for the acquisition of the entire shareholding by The Walt Disney Company (Southeast Asia) Pte Ltd (Disney) in United Home Entertainment Ltd (Hungama TV).

The said shareholding of Hungama TV is being acquired by Disney at an enterprise value of USD 31.125 million.

Source : Equity Bulls

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