StanChart to invest $11 M in NDTV

Friday, 04 July 2003, 19:30 IST
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NEW DELHI: Singapore-based Standard Chartered Private Equity Ltd (SCPEL) is to invest $11 million in NDTV, a leading Indian television news channel. The agreement is subject to regulatory approvals and other closing conditions, Lazard India, which acted as adviser to NDTV in the deal, said in a statement. Commenting on the investment, NDTV's Prannoy Roy said: "NDTV has been in the TV news business for over 15 years. We welcome Standard Chartered Private Equity as an investor in NDTV." SCPEL is the global private equity arm of Standard Chartered Bank, based in Singapore.
Source: IANS
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