Indian entertainment group takes majority stake in Codemasters

AN Indian entertainment group has improved its presence in the UK games industry by taking a majority stake in Warwickshire-based Codemasters.

Reports said Reliance Entertainment, part of the Reliance Group, had taken a majority stake in the games firm, which is responsible for the best-selling Formula 1 series.

Reliance is said to now own 60.41% of the Codemasters business having taken on shares from private equity firm Balderton Capital.

The reports said Balderton had reduced its stake in the firm to 39.59%.

Reliance’s move is said to follow discussions over the games firm’s debt after it extended a series of convertible loans.