Press Information Bureau

Government of India

Ministry of Finance

07-December-2011 20:41 IST

The Cabinet Committee on Economic Affairs today approved the proposal of M/s. The Walt Disney Company (Southeast Asia) Pte. Ltd., Singapore for increasing its shareholding on fully diluted basis from 48.02 per cent to 100 per cent of M/s. UTV Software Communications Limited pursuant to the Foreign Investment Promotion Board recommendation in its meeting held on November 15, 2011.

This approval is expected to result in FDI inflows amounting to Rs.8250 crore.

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SH/SKS

Foreign investment approval enables full acquisition of UTV by Disney following FIPB recommendation and triggers expected FDI inflows. Cabinet Committee approval granted for foreign investment to allow The Walt Disney Company (Southeast Asia) Pte. Ltd., Singapore to increase its shareholding on a fully diluted basis in UTV Software Communications Limited to complete ownership, pursuant to the Foreign Investment Promotion Board recommendation, with the decision projected to result in FDI inflows into the company.