January 2010
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ZEE Network ups stake in Ten Sports to 95%

ZEE Entertainment Enterprises Ltd (ZEEL) has approved the move to acquire a further 45 per cent stake in Taj TV Limited Mauritius, owners of Ten Sports. This will increase ZEE Network's control in the popular sports channel to 95 per cent. Up until now, ZEE Network had a 50 per cent stake in the channel, which it had acquired from the Bukhatir Group for $114 million in 2007. ZEEL has also acquired additional 50 per cent stake in its subsidiary Taj Television (India), which handles the distribution and ad sales for Ten Sports India. Together the two deals were worth $44.15 million. […]

January 19th, 2010

Indian cos see $475 mn VC funding in 2009

Venture Capital investment in Indian companies slumped 43 per cent to $475 million (around Rs 2,200 cr) in 2009, but analysts hope that the fund raising would pick up in the coming months. Venture capital (VC) firms invested $475 million over 92 deals in India in 2009, the data compiled by research firm Venture Intelligence in association with Global -India Venture Capital Association showed. VC funds had invested USD 836 million across 153 deals in 2008. “Liquidity position of the limited partners is improving and this will bring back the pace of VC investment in 2010. We have already seen an improvement in December quarter funding and it is expected to increase further going ahead,” Venture Intelligence chief executive Arun Natarajan said. […]

January 19th, 2010

Reliance Capital to sell up to 20pc stake in mutual fund arm

Anil Ambani Group's financial services firm Reliance Capital is considering divesting up to 20 per cent stake in its mutual fund arm, Reliance Asset Management Company, to an overseas strategic partner. Induction of global partner would help Reliance Asset Management Company to expand its reach and help improve product, technology and process, sources told. Reliance Capital holds 93.37 per cent in Reliance Asset Management Company, the largest mutual fund house with asset under management over 1.18 lakh crore. When contacted, Reliance Capital spokesperson said, “As a policy, we do not comment on speculations.” In 2007, Reliance Capital sold 5 per cent stake to global investor Eton Park for Rs 501 crore, at an equity valuation of Rs 10,000 crore. […]

January 19th, 2010