February 10, 2011 / 14:20 IST
Visaka Industries Ltd, a Secunderabad-based manufacturer of corrugated cement fiber sheets and textile yarn, has acquired 10% in Singapore sports promotion firm Somerset Entertainment Ventures for Rs 12.50 crore.
Somerset Entertainment Ventures is engaged in the business of providing sports and hospitality-focused marketing and consultancy services including the acquisition and trading of sponsorship/marketing rights of various sporting properties.Its board consists of Sandeep Bhammer (Chairman), Kunal Bhargava (Chief Operating Offier) and Christopher McDonald (ex-CEO of Ten Sports and Taj TV) among others.Last July, Somerset Entertainment won the rights to develop Sri Lankan Cricket Premier League in collaboration with Total Sports Asia. The tournament comprises all formats of cricket, including the four-day, limited overs and T20 games and currently, has most of the top Sri Lankan cricketers from the national side participating in it each year representing various provinces. The tournament, which was previously known as the Inter-Provincial Tournament, will now be renamed the
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