Sportskeeda Inc completes acquisition of 73.27% stake in Pro Football Network Inc

Sportskeeda Inc., wholly-owned Subsidiary of Absolute Sports Private Limited, material subsidiary of Nazara Technologies Limited, has completed the acquisition of 73.27% of the Capital Stocks of Pro Football Network Inc., by way of primary infusion in preferred stocks and secondary purchase of common stock from its existing stockholders and subsequent exchange of such common stock into preferred stock, at a consideration of USD 1,817,090.67 (One Million Eight Hundred Seventeen Thousand Ninety US Dollars and Sixty Seven Cents), paid in Cash to the Sellers.

With this acquisition, Sportskeeda Inc. now holds 73.27% of the Capital Stocks of Pro Football Network Inc. and accordingly, Pro Football Network Inc. has become the subsidiary of Sportskeeda Inc., and step down subsidiary of Absolute Sports Private Limited and the Company.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 548.50 as compared to the previous close of Rs. 548.40. The total number of shares traded during the day was 86025 in over 2373 trades.

The stock hit an intraday high of Rs. 564.70 and intraday low of 541.00. The net turnover during the day was Rs. 47394594.00.

Source : Equity Bulls

Keywords

NazaraTechnologies INE418L01021 Sportskeeda AbsoluteSports StakeAcquisition ProFootballNetwork