Friday, April 25, 2008

Goldman Sachs acquires 8.16% stake in NDTV

Goldman Sachs acquired 8.16% stake in New Delhi Television (NDTV), last week, reports Business Lines.

The global firm has acquired the stake when an open offer by the company is going to start shortly. It was scheduled to start on February 12 and close on Mar. 3, 2008 but has been delayed.

At the end of last year, Prannoy Roy and his wife Radhika Roy, promoters of NDTV, announced an open offer to acquire 20% equity stake of the company for Rs 438.98 a share, worth Rs 5.50 billion.

The open offer followed the promoters` acquisition of 7.73% stake from GA Global Investments in December. Prannoy Roy bought the stake of 4,836,000 shares from the PE Fund. This increased the stake of the promoters to 61% from 53.3% the company.

Shares of NDTV declined Rs 4.25, or 1.01%, to end at Rs 416.5. The total volume of shares traded was 33,270 at the BSE. (Thursday)

No comments: