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Amarchand, JSA, Herbies hook up $110m Goldman Sachs-Den TV investment

Television worth investing in
Television worth investing in

J Sagar Associates (JSA) and Herbert Smith Freehills advised Goldman Sachs in its purchase of $110m (Rs 600 crores) of shares in publicly listed TV services company Den Networks, which was advised by Amarchand Mangaldas Delhi.

The deal will see two Goldmans affiliates taking a preferential allotment of shares in the New Delhi-based cable TV services company, which is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

JSA partners Akshay Chudasama, Vikram Raghani and Mithun V Thanks acted for Goldmans with senior associate Anuj Bhasme, and associates Ankit Guha, Shantanu Jindel, Neety Thakkar and Nishant Sharma.

Herbert Smith Freehills Hong Kong partner and Asia head of corporate Austin Sweeney assisted the investment bank on non-Indian laws.

Den Networks was represented by Amarchand Delhi partner Puja Sondhi and comprised of principal associate designate Ramanuj Gopalan and associate Harshita Bhatnagar, according to press releases by Amarchand and JSA.

The deal, which is still subject to regulatory clearances, will also see $50m raised through qualified institutional placements (QIP), according to the Hindustan Times.

Photo by John Atherton

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