Business Standard: Prime Focus, a leading Indian post-production house, has acquired London-based media company VTR Plc for -£4.5 million (Rs 36 crore).
Prime Focus would buy out 55 per cent stake in VTR, at around 35 pence per share. VTR will seek shareholder approval on April 24. The acquisition will give Prime Focus an entry into the mature post-production markets. Prime Focus is promoted by Namit Malhotra and Naresh Malhotra who have 68 per cent stake, while the Anil Dhirubhai Ambani group holds 19.5 per cent, Rakesh Jhunjhunwala 8.5 per cent and Adlabs’ Manmohan Shetty holds 3 per cent.
The London-based company provides post production services to the media industry. Prime is going in for an IPO shortly.