Wednesday, March 28, 2007

ChrysCapital to invest for $60 mn for 12% in Hathway Cable

Homegrown private equity major ChrysCapital may acquire about 10-12% stake in Rajan Raheja Group-controlled Hathway Cable for $60 mn. If the deal sails through, Raheja’s stake will be reduced to about 62-64%, while Star TV will continue to maintain its 26% holding in the company.

Talks between the two parties are at an advanced stage and the deal is likely to take place shortly. In January, Singapore-based PE fund Temasek Holdings bought 10% stake in Tata Sky, the joint venture between the Tata Group and Star TV, for Rs. 250 crores.

Delhi-based ChrysCapital manages $1 bn across four funds. Its investment portfolio includes Idea Cellular, UTI Bank, Suzlon, Yes Bank, Moser Baer and ING Vysya Bank.

Read the article.
Related Post:
Temasek Holdings buys 10% in Tata Sky for Rs. 250 crores; values the DTH provider at Rs. 2500 crores

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