Stocks

Music Broadcast to acquire Friends 91.9 FM

| Updated on April 23, 2018

 

The board of Music Broadcast on Monday approved the acquisition of radio business undertaking – ‘Friends 91.9 FM’ - of Ananda Offset Private Ltd on slump sale basis, subject to regulatory approvals.

The turnover of the target business was ₹10.80 crore for FY 17. The deal is cash consideration of ₹35 crore (minus) net external debt (plus/minus) differential of normalised working capital adjustment of ₹9.24 crore.

Shareholders will monitor the development closely.

Published on April 23, 2018

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