ITV

Tag: Share Purchase Agreement

  • Eutelsat confirms ground infra sale deal with EQT Infrastructure

    Eutelsat confirms ground infra sale deal with EQT Infrastructure

    MUMBAI: Communications satellite firm  Eutelsat group has exercised the put option signed with EQT Infrastructure VI fund (“EQT”) on 9 August 2024 regarding a majority stake in a newly created entity that will hold Eutelsat’s passive ground infrastructure assets. This decision follows the completion of the consultation processes with relevant employee representative bodies of Eutelsat. 

    The exercise of the put option led to the signing of a binding share purchase agreement (SPA) between Eutelsat and EQT. 

    As announced on 9 August 2024 upon signing of the put option agreement, the transaction consists in the carve-out of the Eutelsat’s passive ground infrastructure assets (land, buildings, support infrastructure, antennas and connectivity circuits for the combined portfolio of teleports and SNPs) to form a new company to be incorporated as a standalone legal entity.

    Eutelsat has around 1,400 antennas across more than 100 locations globally, allowing satellite communications for Eutelsat group, OneWeb and third party clients.

    Under the terms of the agreement, EQT will acquire an 80 per cent stake in this new entity, while Eutelsat group will remain committed as long-term shareholder, anchor tenant and partner of the new company with a 20 per cent holding alongside EQT. 

    The transaction values the new entity at an enterprise value of €790m. It remains subject to customary conditions precedent, and closing of the deal is expected in the first quarter of calendar year 2026.

  • NDTV Q2 net loss from news biz widens as rev falls

    NDTV Q2 net loss from news biz widens as rev falls

    MUMBAI: NDTV‘s net loss from news business has widened 30 per cent to Rs 152.5 million for the fiscal second quarter as revenue from operations fell. The news broadcaster had posted a net loss of Rs 107 million in the same quarter of the previous fiscal.

    NDTV‘s revenue for the quarter fell 5.23 per cent to Rs 784.5 million from Rs 822.3 million during the same period last year.

    The company‘s expenditure decreased marginally to Rs 959.3 million from Rs 982.8 million in the year ago period even as employee cost increased 7.29 per cent to Rs 307 million on group wide cost and resource optimisation exercise during the quarter.

    The company‘s operating and administrative expenses rose 20 per cent to Rs 252.6 million during the quarter.

    Income from exceptional items rose to Rs 55.3 million from Rs 29 million in the corresponding quarter of the trailing fiscal.

    Exceptional items during the quarter include gain on sale of investment in Metro Nation Chennai (MNC). NDTV said the gain in standalone results is Rs 44.3 million.

    NDTV and its JV partner Kasturi and Sons Limited (KSL) had on 20 August entered into a Share Purchase Agreement with Educational Trustee Company Private Limited for the sale of 100 per cent of their respective stakes in Metro Nation Chennai Television Limited (MNC).

    On a consolidated basis, NDTV narrowed its consolidated net loss for the quarter to Rs 165.1 million from Rs 223.1 million. The company‘s revenue stood at Rs 1.01 billion, down from Rs 1.05 billion, even as expenses widened to Rs 1.33 billion from Rs 1.29 billion. NDTV said the provision for doubtful debts relating to the shutdown of the channel Hindi GEC Imagine made in the previous year now reversed in the consolidated results amounting to Rs 11 million.