GA European Investments to pick up 8 per cent in NDTV

MUMBAI: NDTV Ltd said today that GA European Investments LTD proposes to acquire nearly eight per cent stake in the company.     

GA European Investments, a company incorporated in Cyprus, is planning to acquire 48,36,000 equity shares (7.95 per cent) of NDTV from Shyam Cellular Infrastructure Projects LTD (SCIPL), a Jaipur-based company. The proposed acquisition is, however, subject to the terms of the requisite documentation among GA and SCIPL and receipt of requisite approvals from the governmental authorities in India.

SCIPL had earlier acquired the shares through open market purchase.