Capital18 enters into an agreement to profitably divest its stake in Stargaze (Glitz Cinemas)

• Security Code: 532798
• Company: NETWORK18

Network 18 Media & Investments Ltd has informed BSE that Capital18 Fincap Private Limited ('Capital18'), venture capital arm of the Company, has entered into an agreement with Carnival Films Private Limited to divest its stake in Stargaze Entertainment Private Limited. Stargaze operates multiplexes in emerging urban centers of India under the brand name of 'Glitz Cinemas'. Capital 18 is a majority shareholder at Stargaze and the transaction, expected to be completed within the current financial year, will result in a profitable exit for Capital18.