Skip to content
Subscriber Only

Walt Disney Increases Stake in Indian Partner

The U.S. entertainment giant plans to invest $233 million in the software and global broadcasting businesses at India's UTV

The Walt Disney Company will invest $203 million in UTV Software Communications to increase its stake to 32%, and another $30 million to take a 15% stake in a new company called UTV Global Broadcasting.

The deal will be effected by way of a preferential allotment of 9.35 million shares to Walt Disney at Rs860.79 ($21.71) apiece. The price represents a 5% premium to the allotment price based on the SEBI preferential allotment pricing formula.