Advertisement


Advertisement

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Breaking News : Network18 to sell entire stake
Advertisement
#1
Network18 to sell entire stake in NewsWire18 to PE firm for Rs 900 mn

Raghav Bahl-promoted Network18 is selling its entire 77.5 per cent stake in NewsWire18 to private equity firm Samara Capital for Rs 900 million.

The deal marks the exit of Network18 from the news terminal business and values NewsWire18 at Rs 1.17 billion.

Network18 had incubated the company with the founding CEO Pankaj Aher and his team.

Network18 is pursuing the strategy of divesting its non-core assets profitably to allow greater focus on its core television and digital businesses.

The transaction is expected to add approximately Rs 700 million to Network18’s consolidated pre-tax profit for the current quarter, the company said.

For more Click Here.
Reply
Thanks given by:
Advertisement
Advertisement




Possibly Related Threads...
Thread Author Replies Views Last Post
  General News: How to sell your old gadgets online in India nairrk 0 788 07-19-2017, 09:33 AM
Last Post: nairrk
  General News: Samsung to sell smartphones at Re 1 nairrk 0 575 05-03-2016, 09:41 AM
Last Post: nairrk
  Patni stake sale buzz gets stronger imxpress 0 957 11-21-2009, 10:53 AM
Last Post: imxpress

Forum Jump:


Users browsing this thread: 1 Guest(s)
Advertisement