Private equity investors Providence Equity Partners (PEP) has bought a 6.35 per cent stake in Indian cable MSO Hathway Cable & Datacom from Australia’s Macquarie Bank. It boosts PEP’s stake in the cable company to 17.2 per cent.
Macquarie still holds 3.07 per cent of Hathway.
PEP used its P5 Asia Holding Investments company (based in Mauritius) to fund the transaction. However, PEP holds other separate stakes via sister investment funds totalling 8.52 per cent.