MUMBAI: Zodiak Entertainment has acquired a majority stake in Mumbai-based Sol Production. Zodiak has upped its stake from 35% to 51%.
Additionally, Sol Production has also appointed Keshav Kaul as its new CEO.
Launched by former UTV executive producers Kamna Nirula Menezes and Fazila Allana in January 2003, Sol Production became part of the Zodiak Entertainment Group in 2008 and has since gone from strength to strength. Continuing its rapid growth, the partnership has met the targets set out in the original agreement, which would result in a stake increase.
Kaul has joined Sol Production from Star TV where he held the position of associate vice president strategic planning. Keshav will run Sol’s commercial business, spearheading its plans for expansion into new regions, and genres.
Zodiak Entertainment senior vice president mergers and acquisitions/business development Patrick Svensk said, “We are very excited to announce our fortified relationship with Sol Production. They are absolute champions in their field and but still have great potential for more growth. We look forward to further reaping the rewards of our partnership over the long term.”
Sol production MD Fazila Allana added, “We are very pleased that Zodiak Entertainment is further increasing its stake in Sol. We have received tremendous support from the group and benefited from the resources available to us, which have improved our knowledge of the international marketplace. With an even stronger team in place now that Keshav has joined, we are feeling very positive about Sol’s future growth.”
The stake increase will not impact the day to day running of Sol Production. Sol will retain its independent status and the Sol brand.