Morning News Digest

Amar Ujala owners to buy out DE Shaw stake; eye new investor

NEW DELHI: Promoters of media publishing major Amar Ujala group are in the process of buying out the stake of foreign private equity player DE Shaw and would consider selling the same to a new investor.

DE Shaw had acquired an 18 per cent stake in Amar Ujala Publications in 2007 for about Rs 117 crore. Differences had emerged later between DE Shaw and the media company, which had accused the foreign investor of violating certain foeign investment rules.

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- Economic Times