M&A
Nazara invests Rs.69-Cr more to hike stake in Sportskeeda to 100%
Listed gaming firm Nazara Technologies has bought an additional 8.97% stake in Absolute Sports Pvt Ltd , making the parent company of Sportskeeda its wholly-owned subsidiary. Nazara has acquired 18,330 equity shares of INR 1 each for INR 69.17 crore, representing 8.97% of the equity share capital of Absolute.Post acquisition, Nazara’s ownership in Absolute has increased from 91.03% to 100%.Besides Sportskeeda, Absolute Sports also owns and operates Pro Football Network (PFN), a comprehensive sports media company focused on the NFL, fantasy football, NFL Draft, and college football, as well as SoapCentral.com, a soap opera content destination.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
