Luthra & Luthra Law Offices [L&L] advised direct-to-home [DTH] television operators Dish TV (listed on NSE & BSE) on its approved scheme of arrangement and execution of definitive agreements on the ‘all-stock’ merger of Videocon d2h (with American Depositary Receipts listed on NASDAQ) into Dish TV.The combined entity (Dish TV Videocon) is expected to be a leading cable and...
Luthra & Luthra Law Offices [L&L] advised direct-to-home [DTH] television operators Dish TV (listed on NSE & BSE) on its approved scheme of arrangement and execution of definitive agreements on the ‘all-stock’ merger of Videocon d2h (with American Depositary Receipts listed on NASDAQ) into Dish TV.
The combined entity (Dish TV Videocon) is expected to be a leading cable and satellite distribution platform in India and is estimated to be valued at approximately INR 17,000 crores (USD 2.5 billion approximately).
Dish TV is Asia Pacific’s largest DTH company, and Videocon d2h is India’s fastest-growing DTH service provider. The merger remains subject to approvals from the SEBI, stock exchanges, and shareholders and creditors of both companies; the Competition Commission of India; the High Court of Bombay; and the Ministry of Information and Broadcasting.
The L&L transaction team was led by Senior Partner - Mohit Saraf, along with Partners - William Vivian John & Vaibhav Kakkar. Videocon d2h was advised by Shardul Amarchand Mangaldas & Co, and Shearman & Sterling LLP acted as the international legal advisor to both Dish TV and Videocon d2h.