Other Private Equity/Strategic Investments
Universal Music acquires 30% stake in Excel Entertainment at Rs.2,400-Cr enterprise valuation
The India unit of music-based entertainment provider Universal Music Group (UMG) has acquired a 30% stake in Mumbai-based Bollywood production house Excel Entertainment at an enterprise valuation of INR 2,400 crore. Ernst & Young and KPMG acted as transaction advisors to Excel Entertainment and UMG, respectively.Founded in 1999 by Farhan Akhtar and Ritesh Sidhwani, Excel Entertainment has produced over 40 films and series. As part of the deal, Akhtar and Sidhwani will maintain creative control, while UMG will gain a strategic foothold in the video business and aims to strengthen its music catalogue.Devraj Sanyal, Chairman and CEO of Universal Music India & South Asia and SVP of Strategy for Africa, Middle East and Asia, will join Excel Entertainment's board.
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