With Dish TV’s share price on an upswing, US private equity major Apollo Global Management is planning to raise $50-75 million by selling 3-4 per cent of its stake in the direct-to-home (DTH) company. The transaction will be through a block trade deal. In the second tranche, Apollo will get a much higher price. Only a little over two months back, Apollo had offloaded 3 per cent of its stake to take home Rs 262.53 crore (Rs 2.625 billion). The 32 million shares were sold at an average price of Rs 82.04 per share. The stake was acquired by a portfolio investment unit of Citigroup and a mutual fund under Birla Sun Life. This time around, Dish TV’s share price has crossed Rs 100. It closed Thursday at Rs 109.60.
Read more at: http://www.televisionpost.com/dth/apollo-to-partially-sell-dish-tv-shares-in-second-tranche-eyes-75-mn/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/dth/apollo-to-partially-sell-dish-tv-shares-in-second-tranche-eyes-75-mn/ | TelevisionPost.com