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The proposed mixture pertains to acquisition by NBC Common Media LLC (NBC Common) of sure shareholding of BTS Funding and BTS VCC.
Additional, a portion of the proceeds from the funding might be utilized by BTS Funding for additional funding into Viacom18 Media Non-public Restricted (Viacom18), CCI mentioned in a launch.
Final 12 months in February, Murdoch and Shankar introduced the formation of the agency, Bodhi Tree Programs (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 corporations in India.
The Competitors Fee of India (CCI) has accredited the deal.
NBC Common is a multinational media and leisure agency which is a wholly-owned subsidiary of Comcast Company. Viacom 18 is engaged in offering media and leisure providers by way of its portfolio of channels and streaming app ‘Voot’.
In one other launch on CCI, the regulator accredited the acquisition of 5.51 per cent stake in Mukand Sumi Particular Metal 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 varied Bajaj Group Corporations.
MSSSL is engaged within the enterprise of producing, promoting and distribution of particular and alloy metal scorching rolled bars.
Offers past a sure threshold need to be accredited by CCI, which retains a tab on unfair enterprise practices.
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