AZB JSA and Covington advise Disney to buy out UTV promoters delist UTV

Bar & Bench August 2 2011

US media giant Walt Disney plans to buy out shares held by public shareholders and original promoters of UTV Software Communications and delist the company. The deal is valued at around Rs. 2,000 crore (approximately $450 million). The Walt Disney Company (Southeast Asia) Pte Ltd, which currently holds 50.44 percent stake in UTV Software, has indicated a floor price of Rs. 1,000 per share.

 

Disney is acquiring the 20 percent stake held by UTV promoters which includes Rohinton (Ronnie) Screwvala, Unilazer Exports and Management Consultants Ltd, Unilazer and Zarina Mehta.

 

AZB & Partners advised UTV . . .

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