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By Nimesh Shah, CNBC-TV18
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CNBC-TV18 has learnt from sources that Deccan Chronicle is likely to do a 5% placement in its subsidiary Sieger Solutions to an international player.
Sources said that Deccan Chronicle is in talks to place 5% equity of Sieger Solutions to International Herald Tribune. The deal is likely at an Enterprise Value, or EV, of USD 750 million. Deccan's current market capital is around Rs 3,000 crore.
The management of Deccan Chronicle declined to offer any comments.
Sieger Solutions’ board had approved private placement in their company late last year. The board nod was for up to 24% placement at a floor EV of between USD 400-450 million.
Disclaimer:
This information has not been provided to the stock-exchanges, and is source-based.
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