Subhash Chandra-led Zee Entertainment Enterprises Ltd (ZEEL) has taken full ownership of its subsidiary India Webportal, a digital property which operates websites such as India.com, Cricketcountry.com, Bollywoodlife.com, OnCars.in, BGR.in, Thehealthsite.com, Prepsure.com, Careerfundas.com, Travel.india.com and Video.india.com. ZEEL has completed the acquisition by acquiring the balance 49% equity stake (12.20 crore shares) in India Webportal after the approval of its board of directors. The requisite formalities have been completed. Last month, ZEEL had agreed to acquire the remaining 49% stake in India Webportal for $30.7 million (Rs 200 crore) to take full ownership of the digital asset. ZEEL’s complete acquisition of India Webportal contradicts its earlier decision to induct a strategic investor as an additional partner. ZEEL was willing to reduce its stake to below 51%.
Read more at: http://www.televisionpost.com/news/zeel-completes-acquisition-of-india-webportal/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/news/zeel-completes-acquisition-of-india-webportal/ | TelevisionPost.com
