Acquisitions12 Oct 2024, 12:15 am
Nazara Technologies Completes Acquisition of 15.86% Stake in STAN Nazara Technologies for USD 2.2 Million
AI Summary
Nazara Technologies Limited, through its wholly owned subsidiary Nazara Technologies FZ LLC, has completed the acquisition of 3,17,333 ordinary shares, representing 15.86% of the share capital of STAN Nazara Technologies Ltd, a company incorporated in the Republic of Singapore. The acquisition was made by way of secondary acquisition/purchase from the existing shareholders of STAN for an aggregate cash consideration of USD 2.2 Million, paid in cash by Nazara Dubai to the sellers. This acquisition is in compliance with Regulation 30 read with Schedule III of Listing Regulations and pursuant to the Share Purchase Agreements dated September 11, 2024.
Key Highlights
- Nazara Technologies FZ LLC, a wholly owned subsidiary of Nazara Technologies Limited, has completed the acquisition of 15.86% stake in STAN Nazara Technologies Ltd.
- The acquisition was made by way of secondary acquisition/purchase from the existing shareholders of STAN for an aggregate cash consideration of USD 2.2 Million.
- The acquisition is in compliance with Regulation 30 read with Schedule III of Listing Regulations and pursuant to the Share Purchase Agreements dated September 11, 2024.
- STAN Nazara Technologies Ltd is a company incorporated in the Republic of Singapore.
- Nazara Dubai paid the consideration in cash to the sellers.