TV18 has acquired strategic control in Infomedia India and will buy upto 53% stake, reports CNBC-TV18.
TV18 will acquire 40% stake from ICICI Venture and 20% via open offer. TV18 has acquired 40% stake from ICICI Venture for Rs 178 crore. Infomedia will issue 50 lakh fresh warrants to TV18 and 10 lakh fresh warrants to ICICI Venture.
TV18 will make open offer for 20% in Infomedia at Rs 237.08 per share. TV18 has an option to buy up to 13% from ICICI Ventures if the open offer fails.(Money Control)