wordpress blog stats
Connect with us

Hi, what are you looking for?

Disney Delisting Offer For UTV Shareholders Begins Jan 16th 2012

Walt Disney, on December 27th has said that it intends to delist and acquire 12,215,776 equity (29.96%) shares from the public shareholders UTV Software Communications, and fixed a price between Rs 835.03 and and Rs 1,000 per share. The buy back offer will open on 16th January and close on 20th January 2012, said the company. The announcement comes close on the heels of Disney getting a nod from the Indian government to increase its shareholding from 50.44% to 100% in UTV Software Communications Limited. Post de-listing, Disney will have a stake of 80.25% of the 40,767,250 shares in UTV, with the remaining stake owned by Ronnie Screwvala, Unilazer Exports and Management Consultants, Unilazer (Hong Kong) and Zarina Mehta. The promoters and equity shareholders of UTV Software had earlier approved the delisting of the company from the Bombay Stock Exchange and the National Stock Exchange, through a postal ballot. Disney currently holds 20,497,994 equity shares of UTV, which constitutes 50.44% of the current paid up capital of the company. In July 2011, the company was looking to acquire 19.75% stake of the Indian media conglomerate UTV Software, currently held by UTV's promoter group (RS Promoters) – Ronnie Screwvala, Unilazer Exports and Management Consultants, Unilazer (Hong Kong) and Zarina Mehta – who hold 80,53,480 shares and thereby delisting the company by acquiring the rest 29.96% stake by buying out the publicly held shares in the open market. Indiagames Rights Meanwhile, UTV informed the Bombay stock exchange that after the successful completion of the Delisting Offer by Disney is successful, the company may assign to Disney or its affiliates its rights…

Please subscribe/login to read the full story.
Written By

Free Reads

News

With GPS in every car, India's toll collection is going high-tech.

News

Google is currently undergoing the necessary procedures for the leasehold land, which is presently under the ownership of the Maharashtra Industrial Development Corporation.

News

The pilot project for which is being launched in 19 cities this year, with a plan to launch a full-fledged rollout next year.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ