Tech
Powered by cricketnext logo
»
1-min read

Bharti Airtel Sells 10.3% Stake in Bharti Infratel to KKR, CPPIB

Following the closure of this transaction, Bharti Airtel’s equity holding in Bharti Infratel stands at 61.7 percent, and that of KKR and CPPIB at 10.3 percent.

News18.com

Updated:March 28, 2017, 2:44 PM IST
facebookTwittergoogleskypewhatsapp
Bharti Airtel Sells 10.3% Stake in Bharti Infratel  to KKR, CPPIB
Bharti Airtel. Representative Image. (Image: REUTERS/Adnan Abidi/File Photo)
Loading...

Bharti Airtel Limited today announced the successful completion of the secondary sale of over 190 million shares of its subsidiary Bharti Infratel Limited (“Bharti Infratel”) representing 10.3 percent, to a consortium of funds advised by KKR and Canada Pension Plan Investment Board (“CPPIB”) for a total consideration of over Rs 6,193.9 Cr (approx. US$ 951.6 million), executed at a price of Rs 325 per share.

Bharti Airtel will primarily use the proceeds from this sale to reduce its debt. Following the closure of this transaction, Bharti Airtel’s equity holding in Bharti Infratel stands at 61.7 percent, and that of KKR and CPPIB at 10.3 percent.

This transaction makes it KKR’s second investment in Bharti Infratel. Previously, the funds managed by KKR had invested in Bharti Infratel during the period 2008 to 2015. Post this transaction, the stake held by KKR and CPPIB (combined) will be the single largest public shareholder block.

Also read: Rooter Raises Seed Round of Funding From Intex Technologies

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp

Live TV

Loading...
Loading...