blackstone-in-indian-media-deal

Blackstone in Indian media deal

The private-equity firm acquires a 26% stake in Ushodaya Enterprises for $275 million.

By Sameera Anand

January 30, 2007

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...

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