Acquisitions9 Dec 2023, 03:49 am
Adani Enterprises Limited Acquires Remaining Stake in Quintillion Business Media Limited
AI Summary
Adani Enterprises Limited (ADANI) has acquired the remaining 51% stake in Quintillion Business Media Limited (QBML), making it a wholly-owned subsidiary. The acquisition was completed on 8th December 2023 for a cash consideration of Rs. 52.45 Crore. QBML has a turnover of Rs. 20.60 Crore for FY 2022-23 and is engaged in the media business. This acquisition is strategic in nature and is in the interest of AMNL.,
Key Highlights
- Adani Enterprises Limited acquires remaining stake in Quintillion Business Media Limited
- QBML becomes a wholly-owned subsidiary of AMNL
- Cash consideration of Rs. 52.45 Crore
- Turnover of Rs. 20.60 Crore for FY 2022-23
- Media business