Network18 to divest its stake in Newswire18

Network18 has entered into a definitive agreement with Samara Capital to divest its entire stake in financial data and news terminal business — NewsWire18.

The total transaction will fetch Rs. 90 crore for Network18 . and expected to add approximately Rs. 70 crore to Network18’s consolidated pre-tax profit for the current quarter.

Announcing the transaction, Raghav Bahl, Managing Director, Network18 said in a release that, “The divestiture of Newswire18, is a reflection of our commitment to profitably monetize non-core assets for the benefit of our shareholders and to also facilitate the growth of these businesses to the next level. .”

The divestment of NewsWire18 forms a part of a series of asset monetisation transactions by Network18. Earlier during the year, Network18 had profitably sold its stake in NetworkPlay and then partially diluted its stake in digital commerce asset —

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Printable version | Apr 14, 2021 10:53:36 AM |

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