Abu Dhabi - Mubasher: E-Vision, a subsidiary of e&, and ADQ have inked a binding agreement to acquire around 57% stake in StarzPlay Arabia, a subscription video on demand (SVOD) and streaming service provider, based on a post-money valuation of $420 million.
e&-led consortium will join existing StarzPlay's shareholders, including STARZ and SEQ Investors, with E-Vision contributing its stake to the consortium, according to a press release on Thursday.
The transaction is subject to regulatory approvals and certain administrative procedures.
The CEO of e& life and Chairman of E-Vision, Khalifa Al Shamsi, said: "This investment further strengthens our service offering and significantly enhances STARZPLAY ARABIA’s positioning across the entire MENA region."
Meanwhile, the Group Chief Investment Officer at ADQ, Jaap Kalkman, said: "With its state-of-the-art technology, distribution strength and compelling and engaging content, STARZPLAY ARABIA has developed a unique market positioning in the MENA region and is well positioned for further growth."
