Macquarie bank sells stake in Hathway

Q.  Macquarie Bank Ltd has sold a ___ percent stake in Hathway Cable and Datacom Ltd for INR 241 crore in an open market transaction on 13th November 2015.
- Published on 16 Nov 15

a. 5
b. 6
c. 7
d. 8

ANSWER: 6
 
Macquarie Bank Ltd has sold close to 6 percent stake in Hathway Cable and Datacom Ltd for INR 241 crore in an open market transaction on 13th November to Global private equity firm Providence Equity Partners. The shares were sold at INR 45.65 per share and picked up by a unit of Providence Equity Partners, P 5 Asia Holding Investments (Mauritius) Ltd. Providence Equity Partners owns 10.85 percent in Hathway Cable and Macquarie which earlier owned a 9.42 percent stake has sold 75% of it. This acquisition follows the easing of FDI norms in broadcasting by GoI.

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