Bodhi Tree Systems strengthens holdings in Viacom18 by securing additional 2.89% stake: ET

James Murdoch and former Star and Disney India head Uday Shankar backed Bodhi Tree Systems has paid Rs 953.23 crore to buy an additional 2.89% stake in Viacom18, according to a report by The Economic Times. 

The company bought the additional shareholder from Reliance Industries Limited.

The transaction that concluded recently valued Viacom18 at Rs 32,983 crore. With this acquire additional stake, the Bodhi Tree’s holding in Viacom18 has increased to 15.97%. In April, it acquired a 13.08% stake in Viacom18 for Rs 4,306 crore. 

The stake acquisition was financed through the $150 million that Bodhi Tree raised from Comcast Corp-owned NBC Universal and global alternative asset manager Tikehau Capital, the report added.