Acquisition By Disney
In 2011, DISNEY ENTERPRISES INC. offered to buy out stakes held by public shareholders and other promoters of the company in a deal valued around Rs 2,000 crores.
Subsequent to buyout of the public shareholders by The Walt Disney Company (South East Asia) Pte Ltd, a promoter group firm, the company will be delisted from both the Bombay Stock Exchange and the National Stock Exchange, it said. "The delisting proposal entails an offer to acquire all outstanding equity shares held by public shareholders in the company," UTV said in a filing to the Bombay Stock Exchange.Currently, Disney was the majority shareholder in UTV Software Communications at the time, with 20,497,994 equity shares, accounting for 50.44 per cent stake. The company's board of directors approved the delisting offer and acquiring shares from public at a price not exceeding Rs 1,000 per equity share, it said.
UTV is now a wholly owned subsidiary of DISNEY SOUTH EAST ASIA PTE. LTD. as of February 2, 2012.
Read more about this topic: UTV Software Communications
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