M&A In Bollywood
By Sahad PV - Mon 27 Mar 2006 08:03 AM PST
It seems M&A interest is picking up in the bollywood space. Business Standard reports that Bertelsmann AG, a German media conglomerate, has initiated talks “for acquiring a sizeable stake in Subroto Roy-controlled Sahara One Media and Entertainment”. The Sahara group, which is exploring various fund-raising options, is also believed to be talking to several foreign players. Sahara One has appointed Ernst & Young India as an advisor.
In February, Bennett, Coleman & Co (BCCL), the parent of the publishers of The Times of India, had acquired a 6% stake in Sahara One. Bennett picked up equity at Rs 344 a share, totalling Rs 37.84 crore ($8.4 million). Bennett had valued Sahara One at Rs 629 crore ($140 million). Last week, Bennett picked up undisclosed stake in Percept Picture Company, another bollywood production house. With bollywood increasingly getting corporatised, we can see M&A picking up in this space too.
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