A screen grab of DEN Networks.
A screen grab of DEN Networks.

DEN Networks to sell 55% stake in DEN Sports for Rs43 crore

DEN Networks will sell 55% of DEN Sports to Wall Street Investments Corporation

New Delhi: Cable TV distribution company DEN Networks Ltd will sell 55% of DEN Sports, which indirectly owns Indian Super League team Delhi Dynamos, to Wall Street Investments Corp. for 43.32 crore.

The company has “entered into an agreement with Wall Street Investments for selling off 55 per cent equity in Den Sports for a consideration of 43.32 crore," DEN Networks informed BSE Ltd.

It further added that “this includes the sale of shares from Den Network and preferential allotment by Den Sports".

Both firms entered into sales agreement on 29 March 2016. Prior to the agreement, Den was holding 100% equity shares in DEN Sports which in turn owns 100% equity shares in DEN Soccer.

DEN Soccer is the operating company which owns, controls and manages Indian Super Leagues team Delhi Dynamos. DEN Networks shares on Friday settled 13.82% higher at 98.85 apiece on BSE Ltd.

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