AMG Media buys 49% stake in Quintillion Business Media

AMG Media Networks Limited, a wholly owned subsidiary of Adani Enterprises Limited, has signed definite agreements with Raghav Behl-promoted Quint Digital Media Limited to acquire 49% stake in Quintillion Business Media Limited.

In a statutory filing on Bombay Stock Exchange (BSE), Quint Digital Media said that the Company and its material subsidiaries viz. Quintillion Media Limited and Quintillion Business Media Limited have signed definite agreements with AMG Media Networks Limited, a wholly owned subsidiary of Adani Enterprises Limited, to conclude the divestment of 49% stake in Quintillion Business Media Limited. 

Quintillion Business Media Limited owns and operates an exclusive business and financial news digital media platform – bqprime.com (formerly known as www.bloombergquint.com). 

The transaction is subject to customary closing conditions and requisite approvals, the company said.