By Hindustan Times
New Delhi, Apr 24 (PTI) Eros International Media today said it will acquire remaining 76 per cent stake in B4U Television Network for a total consideration of USD 53.1 million (over Rs. 275 crore). "Eros International Media Ltd...advises that its parent company Eros International Plc
anticipates entering into a definitive agreement on or after April, 2012, to acquire control of B4U Television Network," Eros International Media said in a filing to the BSE.
The company will acquire about 76% cent of B4U for a "cash and share consideration of $53.1 million", it added.
Eros currently holds about 24% stake in B4U, but does not have significant influence over the company.
Commenting on the development, Eros International Plc Chairman and CEO Kishore Lulla said: "We are delighted to announce our anticipated acquisi