Prime Focus has received an approval for sale of its business division, VFX business, as a going concern, on a slump sale basis, to DNEG Creative Services, a subsidiary of the Company, for a consideration of up to Rs 270 crore.
The Business Transfer agreement is expected to be executed within 120 days from August 22, 2019. The Board of directors of the company at its meeting held on August 22, 2019 has approved for the same.
Prime Focus the world’s largest independent integrated media services powerhouse, employs over 9,000 professionals in 19 cities across 5 continents and 7 time zones.
