After remaining invested for six years, US private equity major Apollo Global Management has finally offloaded its entire stake in the leading direct-to-home (DTH) company Dish TV. In an open market transaction, Apollo India Private Equity II (Mauritius) sold its remaining 3.58 per cent stake, constituting 38.12 million shares, for a sum of Rs 399 crore (Rs 3.99 billion). The shares were offloaded at Rs 104.64 apiece. In 2009, Apollo had invested $100 million for 11 per cent stake in Dish TV. The purchase price translated into Rs 39.8 per share. Earlier this year, in two separate tranches, Apollo sold 7.4 per cent stake for Rs 749.1 crore (Rs 7.49 billion) in Dish TV, cutting its stake to 3.58 per cent.
Read more at: http://www.televisionpost.com/dth/apollo-exits-dish-tv-sells-off-remaining-3-58-stake-for-rs-399-cr/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/dth/apollo-exits-dish-tv-sells-off-remaining-3-58-stake-for-rs-399-cr/ | TelevisionPost.com
