The Government has approved a proposal by Nickelodeon Asia Holdings Pte. Ltd. (Nick Asia), a company incorporated in Singapore, to acquire 50 per cent equity interest in Prism TV Private Limited, a company incorporated in India.Involving foreign direct investment of Rs 940.5 crore, the acquisition is from Shinano Retail Private Limited, one of Prism's shareholders.
Following the clearance by the Foreign Investments Promotion Board (FIPB), approval has been given to Eros International Media Limited for making downstream investment by way of acquisition of shares of an Indian company for non-cash consideration, that is, by issuance of shares of the applicant company to the existing shareholders of the investee company. This does not involve any foreign investment.
Meanwhile, permission has been denied to INX Music having 70.85 per cent indirect foreign investment to undertake the additional activity of broadcasting of a non-news and current affairs channels in various Indian languages.
Indian Television Dot Com | Nick gets govt nod for Rs 940 crore foreign investment; INX proposal for Jhakaas rejected
Following the clearance by the Foreign Investments Promotion Board (FIPB), approval has been given to Eros International Media Limited for making downstream investment by way of acquisition of shares of an Indian company for non-cash consideration, that is, by issuance of shares of the applicant company to the existing shareholders of the investee company. This does not involve any foreign investment.
Meanwhile, permission has been denied to INX Music having 70.85 per cent indirect foreign investment to undertake the additional activity of broadcasting of a non-news and current affairs channels in various Indian languages.
Indian Television Dot Com | Nick gets govt nod for Rs 940 crore foreign investment; INX proposal for Jhakaas rejected
