blackstone-in-indian-media-deal

Blackstone in Indian media deal

The private-equity firm acquires a 26% stake in Ushodaya Enterprises for $275 million.
Blackstone's investment of $275 million in Ushodaya Enterprises, its largest India private-equity deal to date, is also the largest private-equity deal in IndiaÆs media sector. As part of the transaction Ushodaya will arrange $190 million of bank financing taking total new capital raised to $465 million. The money will be deployed to expand Ushodaya's existing media businesses.

Sources close to the deal said Blackstone would acquire a 26% stake in Ushodaya and get proportionate representation on the board whose constitution is yet to be finalized. None of the Ramoji Rao group companies are listed and no financial information for Ushodaya Enterprises was disclosed.

Ushodaya Enterprises was set up over 30 years ago as part of...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222