Also completes merger of PFW and Dneg
Prime Focus announced that the Company has executed the business transfer agreement to sell, transfer and otherwise dispose of its 'Backend' business, on a going concern on slump sale basis to Prime Focus World Creative Services, a company incorporated in India, which is a direct subsidiary of Prime Focus World (PFW), a company incorporated in Netherlands and an indirect subsidiary of the Company, for a net consideration of USD 38 million.The Company also announced the completion of merger of Prime Focus World (PFW), a wholly owned subsidiary of the Company with Double Negative (Dneg). Dneg is one of the largest visual effects services providers to the global film industry.
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