Bharti Airtel, in an affiliate of private equity firm Warburg Pincus said it is buying a 20 percent stake in its DTH arm Bharti Telemedia for about $350 million (around Rs. 2,310 crore).Out of the 20 percent, Bharti Airtel will sell its 15 percent stake in direct-to-home arm and the balance will be sold by another Bharti entity which holds 5 percent stake in the company."Bharti...
Bharti Airtel, in an affiliate of private equity firm Warburg Pincus said it is buying a 20 percent stake in its DTH arm Bharti Telemedia for about $350 million (around Rs. 2,310 crore).
Out of the 20 percent, Bharti Airtel will sell its 15 percent stake in direct-to-home arm and the balance will be sold by another Bharti entity which holds 5 percent stake in the company.
"Bharti Airtel...and Warburg Pincus, a global private equity firm focused on growth investing, today announced that an affiliate of Warburg Pincus will acquire up to a 20 percent equity stake in Bharti Telemedia Limited, the DTH arm of Airtel, for approximately $350 million," both the companies said in a joint statement.
AZB & Partners advised both Warburg Pincus and Bharti Airtel on the deal. The team was led by Partners Anil Kasturi and Nandita Govind, along with Senior Associate Jaishree Tolani Lamba, who acted for Warburg Pincus.
Partner Gautam Saha advised Bharti Airtel.
Billionaire Sunil Bharti Mittal-led Airtel will own 80% of the DTH arm once the deal closes.