DE Shaw to invest Rs 117 cr in Amar Ujala Publications

DE Shaw, one of the worlds largest Hedge Funds, is taking an 18% stake in North India based media house Amar Ujala Publications and its printing company for Rs 117 crore, reports Economic Times.

According to the report, DE Shaw would pick 18% stake in Amar Ujala Publications through a preferential allotment for a cash consideration of Rs 58.5 crore along with an 18% stake in A&M Publications, the printing unit of the media house for a similar consideration of Rs 58.5 crore, thus valuing the entities at about Rs 650 crore cumulatively.

Amar Ujala Publications is presently a closely-held company engaged in the business of publishing and printing the Hindi newspaper Amar Ujala which is circulated in north Indian states. A&M Publications, which prints newspapers exclusively for Amar Ujala Publications, is promoted by the Amar Ujala Group.

D.E. Shaw, a multi-strategy hedge fund having assets under management of $25 billion, had recently started Indian operations and last month invested $8 million Amtek India through a preferential allotment of shares

Read article from The Economic Times