HomeShop18, part of Mukesh Ambaniowned Network18 Media & Investments, and Shop CJ Network -an equal joint venture (JV) between private equity investor Providence Equity Partners and Korean firm CJ O Shopping -are in talks to merge operations. Sources with direct knowledge of the development told ET that the due diligence is on and the deal size is expected to be anywhere between $150-200 million.
“Providence, which had picked up 50% stake in the Shop CJ (then Star CJ Network), is looking for an exit from India, and demonetisation has hit the home shopping business badly,“ said a highly placed source on condition of anonymity.“The talks are at an advanced level and if all goes well, it could be announced in next 3-4 months. HomeShop18 will control the merged entity.“
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Homeshop18: Shop CJ may merge with HomeShop18 - The Economic Times
“Providence, which had picked up 50% stake in the Shop CJ (then Star CJ Network), is looking for an exit from India, and demonetisation has hit the home shopping business badly,“ said a highly placed source on condition of anonymity.“The talks are at an advanced level and if all goes well, it could be announced in next 3-4 months. HomeShop18 will control the merged entity.“
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Homeshop18: Shop CJ may merge with HomeShop18 - The Economic Times