Den Networks (Den) has entered into an agreement with Wall Street Investments (Wall Street) for selling off its 55% equity stake in DEN Sports for a consideration of Rs 43.32 crore. This includes the sale of shares from Den Networks and preferential allotment by Den Sports.
Prior to execution of agreement with Wall Street, Den was holding 100% equity shares of DEN Sports which, in turn owns 100% equity shares of Den Soccer (Den Soccer). Den Soccer is the operating company which owns controls and manages Delhi Dynamos F.C. (Club) and holds the franchisee for Delhi to participate in the Indian Super League (1SL).
Wall Street Investments is represented by Principals of GMS OM. GMS (11.1) is based out of Dubai and acts as an agent for its principals which have broader interest in the shipping industry.
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.
