Standard Chartered Bank’s (StanChart) private equity unit and Providence will acquire more than 35% stake in general entertainment broadcaster Multi Screen Media (MSM), Times of India reports. The partners will pay a total of nearly $250 million for the acquisition. The transaction is expected to value MSM at $800 million to $900 million. Sony holds a 61% stake in MSM, which owns SET, SET Max and SAB channels, and Indian investors about 30%.
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