Advanced Television

P.E. buys into Videocon d2h

February 9, 2016

By Chris Forrester

Private equity investor WestBridge CXrossover Fund has acquired a 5.2 per cent stake in Mumbai’s (but Nasdaq-listed) digital broadcaster Videocon d2h.

WestBridge announced in a disclosure to the US Securities and Exchange Commission that it owned 5,445,311 shares of Videocon d2h, the direct-to-home (DTH) arm of Videocon Group. The deal pushed up shares of Videocon d2h, which rose 3.10 per cent during trading on Thursday, hitting a price of $6.666 per share.

The company’s market cap stands at $692.57 million. As of December 31st 2015, Videocon d2h has 11.27 million net subscribers.

Last January Silver Eagle Acquisition, a media investment fund managed by Harry Evans Sloan and Jeff Sagansky acquired about 35 per cent of Videocon d2h in a deal valued at the time at $300 million -$375 million.

Categories: Articles, Business, M&A