Den Networks has entered into a Share Purchase Agreement (SPA) with Pimex Broadcast (Pimex) for selling off its entire equity stake held in Macro Commerce (Macro) on a going concern basis. Pimex will end up holding entire 100% shareholding of Macro.
DEN defined its core business as cable & wired broadband services in India, sometime back. With this Sale DEN will now be focussing on the Indian Cable and Broadband Industry.
DEN is India’s leading cable TV distribution company reaching an estimated 13 million households in over 200 cities across 13 key states in India and is present in Delhi, Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh and Uttarakhand.