AMG Media Networks Limited, a wholly owned subsidiary of the Adani Group, has acquired 50.5 percent stake of IANS India Private Limited from a third party.
Post the acquisition, the company will get equity shares both with and without voting rights.
The transfer of shares related to the acquisition were approved by the Board of IANS at its meeting held on December 15, 2023.
The acquisition of the media network is strategic in nature, the company said. Pursuant to the acquisition, IANS will be a subsidiary of AMNL. AMNL has also signed a shareholders’ agreement with IANS and Sandeep Bamzai, a shareholder of IANS, to record their inter-se rights with respect to IANS.