Alva Brothers Entertainment is buying back Turner International stake in three local JV companies - Miditech, Real Global Broadcasting and Match Box Films.
The Alva Brothers have bought back Turner's 29% stake in Miditech and are also in the process of buying back Turner's 50% stake in Real Global Broadcasting. Turner also holds a 34% stake in Matchbox films, which will be transfered to Alva Brothers.
They are also looking to raise funding for expansion by offloading a minority stake to strategic shareholders.
Transaction Reference: IndianTelevision
The deal comes after Turner bought 85.68% stake in Hindi general entertainment channel NDTV Imagine from NDTV for a total consideration of Rs 546 Cr in Feb'10.
Miditech Private Limited is production house of the Alva Brothers (Niret and Nikhil Alva). It also provides content to TV networks like Star, Zee and Sony Entertainment Television.
Turner had bought 25% stake in Miditech from ICICI Venture in Dec'07, to form a JV.
At the same time, the Alva Brothers and Turner entered into a 50:50 JV to launch a Hindi entertainment channel - Real TV, through Real Global Broadcasting. However, the channel went off air earlier in this year, due to low viewership.
The brothers are planning to relaunch the channel within 60 days. The company is also planning to launch premium English channels in the near future.
Match Box films is a 100% owned subsidiary of RGB. It is into movie production.
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 30/07/10 |
Miditech Private Limited - Alva Brothers |
M&A |
Alva Brothers Entertainment Private Limited |
- |
| 17/12/07 |
Miditech Pvt. - ICICI Emerging Sectors Exit |
M&A |
|
- |
| 16/12/07 |
Miditech Pvt. - Turner Broadcasting System, |
M&A |
Turner Broadcasting System, Inc. |
- |
| 28/02/02 |
Miditech Pvt. - ICICI Emerging Sectors |
Private Equity |
ICICI Emerging Sectors Fund |
- |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 02/02/12 |
M&A |
The Walt Disney Company |
UTV Software Communications Limited |
- |
Announced |
| 24/01/12 |
M&A |
Legrand India Private Limited |
Unknown |
- |
Planned |
| 19/01/12 |
IPO / Offerings |
|
Ram Kaashyap Investment Limited |
75.00 |
Completed |
| 17/01/12 |
M&A |
Marico Limited |
Unknown |
- |
Planned |
Company |
| Name | Promoters | Office | Competitor | Website |
| Miditech Private Limited |
Alva Brothers |
84-B/2, Plot No.548, Mahipalpur, Near Radisson Hotel, Delhi-110037. India. |
|
www.miditech.tv |
| Alva Brothers Entertainment Private Limited |
Alva Brothers |
84-B/2, Plot No.548, Mahipalpur, Near Radisson Hotel, Delhi-110037. India. |
|
alvabrothers.com |
 |
Avendus Advisors Private Limited |
