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The proposed mixture pertains to acquisition by NBC Universal Media LLC (NBC Universal) of sure shareholding of BTS Investment and BTS VCC.
Further, a portion of the proceeds from the funding might be utilized by BTS Investment for additional funding into Viacom18 Media Private Limited (Viacom18), CCI stated in a launch.
Last yr in February, Murdoch and Shankar introduced the formation of the agency, Bodhi Tree Systems (BTS).
Thereafter, in April, BTS introduced that it’s elevating funds with a consortium of buyers to take a position Rs 13,500 crore in Viacom 18, as a part of a tripartite partnership with billionaire Mukesh Ambani’s Reliance, to type one of many largest TV and digital streaming companies in India.
The Competition Commission of India (CCI) has accepted the deal.
NBC Universal is a multinational media and leisure agency which is a wholly-owned subsidiary of Comcast Corporation. Viacom 18 is engaged in offering media and leisure providers by means of its portfolio of channels and streaming app ‘Voot’.
In one other launch on CCI, the regulator accepted the acquisition of 5.51 per cent stake in Mukand Sumi Special Steel Ltd (MSSSL) by Jamnalal Sons Pvt Ltd (JSPL) from Mukand Ltd.
Mukand is part of Bajaj Group whereas JSPL is an funding and lending firm holding shares in numerous Bajaj Group Companies.
MSSSL is engaged in the enterprise of producing, promoting and distribution of particular and alloy metal scorching rolled bars.
Deals past a sure threshold need to be accepted by CCI, which retains a tab on unfair enterprise practices.
