Walt Disney is seeking to acquire the complete stake of India’s UTV Software Communications and then delist it, The Wall Street Journal reports. The transaction will be valued at $454 million.
Walt Disney owned 50.4% of the Indian media company’s 40.6 million outstanding shares, as of June 30. Following the buyout, Ronnie Screwvala, the Indian promoter of UTV Software, will divest its 19.8% shares in the company, but will remain as managing director of Walt Disney’s Indian entity, adds Computer Business Review.
Click here for the story from The Wall Street Journal.