NEW DELHI (dpa-AFX) - BookMyShow, an Indian entertainment ticketing platform, Wednesday announced that it has signed a definitive agreement where funds managed by KKR & Co. Inc. (KKR), the investment and asset management major, will acquire a minority stake in BookMyShow.
The financial details of the transaction have not been divulged.
KKR's investment is expected to support the ticketing company's next phase of growth as it scales its live entertainment business and deepens its full-stack offering across India.
'We believe BookMyShow will play an important role in advancing India's ambition to become a global entertainment hub and a premier destination for leading artists and acts from around the world.' commented Akshay Tanna, Head of India Private Equity at KKR.
On Tuesday, KKR shares closed at $107.19, down 1.51% on the New York Stock Exchange.
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