US private equity major Apollo Global Management has sold 4.4 per cent stake in direct-to-home (DTH) company Dish TV in a second tranche, making a cool Rs 486.57 crore (Rs 4.87 billion). Apollo India Pvt Equity II (Mauritius) Ltd sold 46,911,765 shares, representing 4.4 per cent stake in Dish TV, at an average price of Rs 103.72 per share. TelevisionPost.com earlier reported that Apollo Global Management was planning to raise $50-75 million by selling 3-4 per cent of its stake in the DTH company. The transaction would be through a block trade deal. Interestingly, Citigroup Global Markets picked up 25,998,550 shares at an average price of Rs 103.65, shelling out Rs 269.47 crore (Rs 2.69 billion). Earlier in April, Apollo had offloaded 3 per cent of its stake to take home Rs 262.53 crore (Rs 2.625 billion). But the 32 million shares were sold at a much lower average price of Rs 82.04 per share.
Read more at: http://www.televisionpost.com/dth/apollo-pockets-rs-486-6-cr-by-selling-4-4-in-dish-tv/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/dth/apollo-pockets-rs-486-6-cr-by-selling-4-4-in-dish-tv/ | TelevisionPost.com
