Adani Group – Quintillion Media
Gautam Adani’s AMG Media Networks, a unit of Adani Enterprises, will buy 49% of Quintillion Business Media Pvt Ltd. This is the platform curated by Raghav Bahl. Adani Group to buy QBM’s stake for an undisclosed sum.
Quintillion Business Media Ltd. (QBML) acquired by Adani Enterprises in March by acquiring an unexplained minority stake.
Adani Enterprises said the SHA and SPA document the terms of agreement regarding AMG Media’s acquisition of 49% of the equity shares of QBML. Furthermore, it includes inter Vivos rights and obligations.
AMG Media Networks Limited has signed a Memorandum of Understanding with the Company and its material subsidiaries, Quintillion Media Limited and Quintillion Business Media Ltd., to divest 49% of Quintillion Business Media Ltd. in line with its March 1, 2022, MOU.
Among the properties owned by Quint Digital viz. In the proposed transaction with the Adani Group, only Quint, Quin type Technologies, the rebranded Minute, and Youthkiawaaz would be included.
The Adani Group has a market capitalization of over USD 150 billion. It operates airports and ports, power generation and transmission, coal and city gas distribution networks, and coal mines.