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Mergers & Acquisitions | 5 May 2010

Jagran Prakash Buys Mid-Day's Publication Business

by Jarna Gandhi
Jagran Prakash Buys Mid-Day's Publication Business
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Mid-Day Multimedia Limited has sold its publication subsidiary Mid-Day Infomedia Ltd to Jagran Prakashan Limited in a share swap deal.

As part of the Scheme of Arrangement, the publishing business of Mid-Day Multimedia Ltd would be demerged and transferred to JPL.

For the demerged publication business, the MML Shareholder will receive 2 shares of JPL for every 7 shares held. The deal would result in an equity dilution of 4.9%.

Singhi Advisors were the sole advisors to the transaction.

Transaction Reference: DealCurry
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