UK private equity fund acquires 33 per cent in Nimbus for Rs 2 billionUK private equity fund acquires 33 per cent in Nimbus for Rs 2 billion

MUMBAI: UK-based private equity and venture fund 3i is acquiring around 33 per cent stake in Mumbai-based Nimbus Communications for $45.50 million (approx Rs 1.97 billion), a move which will mark its entry into the Indian market.



The money will be deployed to fund sports rights acquisitions, develop global sports events, augment long term working capital, invest in TV production and infrastructure expansion, finance Indian language and international film production, Indian language film distribution, mobile content distribution, and develop further digital content production for wireless and video on demand platforms.

Nimbus will explore investments in sports and lifestyle broadcasting. Says Nimbus Communications executive chairman Harish Thawani,“3i was able to combine its global media expertise and local execution skills to speedily conclude this investment. But above all, the chemistry between us has been fantastic and we share a common belief in the global abilities of Nimbus and that’s where I believe 3i will add strategic value.”



Talking about 3i’s entry into the Indian market, managing director and co-head Asia Anil Ahuja says, “3i likes companies that seek aggressive growth tempered by prudent capital management. 3i believes that Nimbus with its impressive track record, management depth and global business strategy is well positioned to achieve its goal of becoming a billion dollar company by 2010.”

London-based financial services consultant Euromax Capital was exclusively mandated in this transaction. Says Euromax Capital managing director Darshan Desai, “We have been at the forefront of building bridges between Western capital and Eastern enterprise. In this landmark deal, the largest private equity investment in the Indian entertainment industry, Euromax Capital has catalyzed the first Indian investment by Europe's premier private equity house- 3i- into Nimbus which is India's leading sports & media company.”

Nimbus has a business mix of television, sports, motion pictures and digital content. It has produced over 5,000 hours of TV programming and currently airs 15 serials every week on various channels. Nimbus Sport International, the Singapore-based subsidiary company, is a sports marketing and production company. The current contracts include the management of commercial rights of International Cricket Council events mandated by the Global Cricket Corporation, the A1 Grand Prix World Cup of motor sport mandated by Team India and the Afro Asia Cup cricket mandated by the Asian Cricket Council.

The company provides digital content to the mobile telecommunications industry and is also a fledgling producer of Indian language movies. Nimbus plans to take over a leading film distribution company soon to enter the distribution business, it said in a release.

3i is a leading global private equity and venture capital, focusing on buyouts, growth and Venture capital and investments across Europe, the US and the Asia Pacific region. In the year to 31 March 31 2005, 3i invested $1.7bn. The Group is listed on the London Stock exchange and has over 1500 portfolio companies.

Latest Reads
US$ 4.5 bn expected from IPL rights; SC recommends accounts scrutiny

The Supreme Court on Friday froze all financial transactions between the BCCI and state cricket associations by directing the apex body not to disburse any funds till it resolves to abide by the Justice RM Lodha panel recommendations on reforms by 3 December . The top court ordered that none of...

Television TV Channels Sports
TVS Tyres is co-presenter for Asian Champions Trophy 2016

Continuing its strong connect with sports, TVS Tyres has associated with Asian Champions Trophy 2016 by becoming the co-presenter. The Asian Champions Trophy is one of the premier hockey tournaments, a much sought after annual international competition promising some great hockey action. This...

Television TV Channels Sports
Q2-17: Zee Learn declares maiden interim dividend

The board of directors of the Essel group’s education company Zee Learn Limited (ZLL) have declared a first time ever dividend of 5 percent per equity share of Re 1 each for the quarter ended 30 September 2016 (Q2-17, current quarter).

Television TV Channels Factual & Documentary
Whether BARC action can stop unethical practices?

MUMBAI: Can businesses and industries practise their art of selling fairly although they have 'Fair Practices' training during academic courses, workshops and several ISO and other certifications? There seems to be the fear of the lawman, and not the law in India. If the traffic cop is watching,...

Television TV Channels Viewership
TV Superhighway: beIN, Yaddo, AfricaXP have joined us, says Magine CEO Ambuj Goyal

CANNES; Magine has secured partnerships with four of the industry’s most exciting sports, documentary and entertainment content providers. Partnerships with beIN, the international media group and owner of MIRAMAX; Yaddo, the new documentary streaming service headed up by former head of The BBC’s...

Television TV Channels Factual & Documentary
Colors emerges strong on strength of Naagin I & II

MUMBAI: One of the top rated shows Naagin Season 2 helped Colors reach a top-ranking position.

Television TV Channels GECs
Pakistan Broadcasters Association to oppose PEMRA Indian content ban

MUMBAI: The Pakistan Electronic Media Regulatory Authority (PEMRA) shocked both Pakistan and Indian broadcasters when it issued an order blanking out  all Indian content from Pakistan’s television channels on 19 October.

Television TV Channels GECs
Sony Pix to telecast 'Jurassic World' on 22 October

Sony Pix will take the viewers on a thrilling, adventurous journey with cloned dinosaurs in their Billion Dollar Premiere property. The channel plans to air Jurassic World on 22 October at 1 pm and 9 pm.

Television TV Channels English Entertainment
Sony AXN scripts deal with Pinewood; buys stake in SVOD service Hopster

Folks at Sony Pictures Television (SPT) are in a celebratory mood. Not only has it signed a six-series deal with Pinewood Television but has also acquired a minority stake in the London-based video subscription service for kids content - Hopster.

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories