VCCircle: Temasek, India Equity Partners To Invest Rs 163 Cr In Lokmat Group

Temasek and India Equity Partners (IEP) will jointly invest Rs 163 crore ($32 million) in regional media house Lokmat Group, VCCircle has learned. Temasek will pick up 15% stake in Lokmat Newspapers Pvt Ltd (LNPL) for Rs 128 crore and IEP will hold 4.5% of LNPL for Rs 34.8 crore. The transaction is two-tiered which involves issue of fresh shares and partial selloff by the promoters Darda family. The deal will value LNPL at Rs 853 crore ($170 million).

Recovered from the site’s WordPress archive, where it was published on 2008-12-08.