Wall Street Investments ups stake in DEN Sports to 80%

Wall Street Investments, majority co-owner of the Delhi Dynamos F.C. of the Hero Indian Super League (ISL), has received an in-principle approval from the Registrar of Companies, NCT of Delhi & Haryana for changing the name of DEN Sports & Entertainment to Delhi Sports & Entertainment and DEN Soccer to Delhi Soccer, subject to necessary approvals and filings.

The Board of Directors and shareholders of DEN Sports and DEN Soccer in their meeting held on November 15, 2016 have, along with other resolutions, inter-alia considered and approved:

·        transfer of further 25 per cent equity stake of DEN Sports from DEN Networks to Wall Street;

·        change of name of DEN Sports and DEN Soccer subject to approval of the ROC;

·        other completion conditions in terms of agreement executed amongst DEN, Wall Street, DEN Sports and DEN Soccer.

With the said acquisition, the holding of Wall Street has increased from 55 per cent to 80 per cent and the holding of DEN has reduced from 45 per cent to 20 per cent.

Wall Street Investments is represented by its agents, GMS. GMS is based out of Dubai and acts as an agent for its principals which have broader interest in the commercial shipping and offshore industries.