Television

Merrill Lynch, Nomura Mauritius pick up 14.2% in NDTV for Rs 700 mn

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MUMBAI: Merrill Lynch and Nomura Mauritius have picked up 7.92 and 6.25 per cent stake respectively in the news broadcaster NDTV, paving the way for private equity firm DE Shaw to consolidate its holdings through these two transactions to 14.2 per cent for Rs 700 million.

The two investment firms have picked up the shares on behalf of DE Shaw from the open market on NSE and BSE, according to market sources.

Merrill Lynch picked up 5.1 million shares of NDTV from Goldman Sachs, which offloaded its entire stake for Rs 76.55 per share. Merrill Lynch has shelled our Rs 390.9 million for the transaction.

  

     

  Nomura Mauritius, on the other hand, has bought the shares from GS Mace Holdings, which exited NDTV by selling its 4 million shares for a total of 308.5 million.

When contacted, NDTV Group CEO KVL Narayan Rao said he is not aware of DE Shaw taking stake in NDTV. "You can‘t expect us to comment on any transaction that is made in the open market where we are not involved," Rao added.

NDTV operates three news channels NDTV 24X7, NDTV India and NDTV Profit. It also runs a lifestyle channel, NDTV Good Times.

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