Adani Enterprises Limited (AEL) has announced the acquisition through it’s wholly owned subsidiary, AMG Media Networks Limited (AMG).
Key points to note –
- Acquisition is of 49% stake in Quintillion Business Media Limited (QBML)
- QBML owns and operates a business and financial news digital media platform, viz., www.bqprime.com (formerly known as www.bloombergquint.com).
- Previously on March 1, 2022, AEL had signed a MoU with Quint and announced to foray into the media business by acquiring an unspecified minority stake in QBML.
- Consideration as well as financial performance numbers of the acquisition have not been disclosed.