Bharti Airtel has introduced that they’re going to purchase again 20% stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about ₹3,126 crore.
The Warburg Pincus affiliate had acquired 20% fairness stake in Bharti Telemedia, in 2018 after the announcement of the deal in December 2017.
The transaction will likely be discharged primarily by way of issuance of about 3.64 crore fairness shares of Airtel at a value of ₹600 per share and and as much as ₹1,037.8 crore in money, Bharti Airtel stated in an announcement.
The proposed transaction is a part of Airtel’s technique to align the shareholding of its buyer going through merchandise, providers and companies below the identical holding group.
A full management and possession over Bharti Telemedia will now permit Airtel to supply differentiated and converged options to clients and promote “One Dwelling” technique.
“DTH is an integral a part of our Properties technique and this transaction is one other step in direction of simplifying the shareholding of our buyer going through companies offering structural flexibility and ease of implementation,” Harjeet Kohli, Group Director, Bharti Enterprises stated.
Airtel has all the time loved an in depth and strategic partnership with Warburg Pincus, throughout its enterprise verticals and geographies and we’re delighted to have them again as a part of Airtel’s thrilling journey forward, together with in digital companies,” Kohli added.
Citigroup World Markets India Non-public Restricted (“Citi”) acted because the monetary advisor to Airtel and Credit score Suisse Securities (India) Non-public Restricted acted as advisors to Warburg Pincus in reference to this transaction.