Financial Daily from THE HINDU group of publications
Friday, Dec 23, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 23, 2005 |
|
|
|
|
|
|
|
Corporate
-
Restructuring TV18 announces consolidation scheme Our Bureau
Mumbai , Dec. 22 TELEVISION Eighteen India Ltd announced that it has finalised the scheme for consolidating its media businesses. The scheme envisages setting up a holding called Network 18 India Holdings Ltd. The business news operations, including Awaaz and CNBC-TV18, will be in TV 18, while Network will hold majority stakes in TV18 and the channel `CNN-IBN.' TV18 will also hold a portfolio investment stake in CNN-IBN, whose value could be realised at an opportune time. "The restructuring would enable the Group to comply with the up-linking guidelines of the Government," the company said in a notice to the BSE. After the High Court's sanction, the revised structure would leave TV18 with a share capital of 5. 24 crore shares having a face value of Rs 5 each. Network 18 will have a share capital of 5 crore shares having a face value of Rs 5 each. After the restructuring, Network 18 will approach the markets with a public offering to fund further growth and facilitate efficient price discovery. KPMG India Pvt Ltd provided valuation guidance for the restructuring scheme, while BMR & Associates acted as transaction and financial advisors. Based on the share swaps, an existing shareholder of TV18 holding 10 shares of face value Rs 10 each would end up with 12 shares of face value Rs 5 each in Network Ltd and 14 shares of face value Rs 5 each in TV18.
More Stories on : Restructuring
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|