Business Update1 Jul 2024, 11:51 pm
Prime Focus Ltd. Completes Divestment of Entire Shareholding in Prime Focus Technologies Limited to DNEG
AI Summary
Prime Focus Ltd. has completed the sale of its entire shareholding in Prime Focus Technologies Limited (PFT) to DNEG S.a.r.l., Luxemburg (DNEG). The transaction was carried out in accordance with the Share Purchase Agreement dated April 29, 2024 and the Addendum dated May 29, 2024. The entire shareholding held by the Company in PFT has been transferred to DNEG with effect from July 01, 2024.
Key Highlights
- Prime Focus Ltd. has completed the divestment of its entire shareholding in Prime Focus Technologies Limited.
- The sale was conducted in accordance with the Share Purchase Agreement dated April 29, 2024 and the Addendum dated May 29, 2024.
- DNEG S.a.r.l., Luxemburg has acquired the entire shareholding held by the Company in PFT.
- The transaction was finalized and the shareholding transferred on July 01, 2024.
- This disclosure is made in accordance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended”.