Den Network has entered into a Share Purchase Agreement (SPA) on March 16, 2016 with Star India and Star Den for selling off its entire 50% equity stake held in Star Den for a consideration of Rs 40.35 crore. Upon completion of the said share transfer to Star India, Den shall cease to be a shareholder in Star Den and the joint venture agreement executed among the parties shall stand terminated.
Star Den is a Joint Venture Company (JVC) between Star India and Den, wherein both parties hold equal shareholding. The joint Venture agreement was executed on January 14, 2008 and was restated on May 26. 2011.
Den Networks is India’s leading cable TV Distribution Company reaching an estimated 13 million households in over 200 cities. The company has been one of the frontrunners in the cable TV digitization process and has over 5.7 million digital cable subscribers. DEN is present in 13 key states across India.
