Indian Pay-TV Operator To List In US After $300M Stake Sale

Law360, New York (January 6, 2015, 1:28 PM EST) -- Videocon d2h Ltd. will sell at least $303.7 million worth of its shares to Silver Eagle Acquisition Corp., the companies said Monday, and the satellite television provider will subsequently become the first U.S.-listed Indian Pay-TV operator.

The move, announced late Monday evening, sees Silver Eagle, a company founded by two former Hollywood executives Harry Sloan and Jeff Sagansky, buying a minimum of 33.5 percent of the existing equity capital of Videocon d2h. That percentage could rise to as much as 38.6 percent, with the monetary value of the deal jumping to $375 million, depending on how interested Silver Eagle shareholders are...

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