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Walt Disney Company (South East Asia) has acquired all the shares of Ronnie Screwvala and Unilazer and Unilazer HK in UTV Software Communications.

As per the acquisition, Screwvala will take away Rs 8.05 billion of the 8.053 million shares, or 19.82 per cent of the media company they were holding earlier.

Earlier in July, UTV had announced that Disney has offered to buy out all the shares of UTV, which it already does not own, for Rs 20 billion approximately.

The deal got approval of the Cabinet Committee on Economic Affairs (CCEA) in December last year.

Till December 31st, the promoter and promoter group shareholding in UTV was at 70.04 per cent, including 50.28 per cent owned byWalt Disney Company (South East Asia) Pte Ltd.

In the new scheme of things, Screwvala ceaseto be UTV managing director but will continue as a whole time director. He takes over as Walt Disney Company India as managing director.