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Den to sell entire stake in Star Den JV to Star

Thakur

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Den Networks Limited (Den) has informed the bourses that it has entered into an agreement to sell its entire fifty per cent stake in its joint venture Star Den Media Services Private Limited (Star Den) to its partner Star India Private Limited (Star India). The agreement price for Den’s stake is Rs 40.35 crore. Star owns an equal share in the JV.

At the time of filing of this report, buoyed the news of the stake sale, Den shares were up 15.20 per cent from the previous close on the Bombay Stock Exchange (BSE), with each equity share having face value of Rs 10 being traded at Rs 95.50 as compared to yesterday’s close rate of Rs 82.90 and a total traded quantity of 2.1 lakh. The intraday high price of the share was Rs 99.20. The share had opened at Rs 83.75 today at the start of the trading day. The 52 week high price of the share was Rs 169 and the 52 week low was Rs 60.50.

TAGS: DEN | Star Den | Star | Bomba



http://www.indiantelevision.com/cable-tv/msos/den-to-sell-entire-stake-in-star-den-jv-to-star-160316
 

Dinesh jain

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DEN Networks is selling its entire 50% stake in
Star DEN to joint venture partner Star India for Rs 40.35
crore (Rs 403.5 million).
The two companies have entered into a share purchase
agreement.
After the completion of the share transfer to Star, DEN will
cease to be a shareholder in Star DEN. The JV agreement
between the parties will stand terminated.
Star DEN is an equal distribution JV between Star and
DEN. The JV agreement was signed on 14 January 2008
and was restated on 26 May 2011.
 

hike

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Omg!! That means DEN is NOW Star DEN; I didn't get one thing why?? Star buys share of DEN as of my knowledge this company is in big trouble and deep . why don't buy other MSO. Their are many other big MSO Like hathway.
Hopefully Star channels are available at very low price in basic packs.
In Jaipur DEN runs with RAJASTHAN PATRIKA (Newspaper)
 

santosh

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Day by day all ppls are sscumbbing to star

 

praks001

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I guess that's only for the distribution business & not for the cable tv business.
 
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