Music Broadcast Limited (MBL) acquired 24% of the equity share capital of Reliance Broadcast Network Limited (RBNL) by way of a preferential allotment for a total consideration of Rs 202 crores. After that, subject to the receipt of the approval from the Ministry of Information and Broadcasting, MBL will acquire the entire equity stake held by the promoters (Reliance Capital Limited and Reliance Entertainment Networks Private Limited) in RBNL for a cash consideration that will be determined basis of an enterprise value of INR 1050 crores. , according to Equitybulls and reports.
Khaitan & Co advised
2019-06-12
This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.
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