has sold its publication subsidiary Mid-Day Infomedia Ltd
to @Jagran 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