Blackstone Group invests in the most widely read newspaper in the world

The Blackstone Group (NYSE: BX) will be investing INR 2250 million in Jagran Media Network Private Limited, which will hold majority share of Jagran Prakashan Limited.  Jagran Prakashan Limited (NSE: JAGRAN.NS, BSE: JAGRAN.BO) is India’s leading media and communications group, with the group’s flagship brand, Dainik Jagran, being the most widely read newspaper in the world with a total readership of 54.6 million. Jagran Media Network Private Limited will file for necessary approvals for the investment with the Foreign Investment Provision Board (FIPB) today.
Aprox. Value:  INR2,250 million
 
Acquirer:  The Blackstone Group
ACQ Web:  http://www.blackstone.com
Location:  USA, New York, NY
Region:  North America
Description:  Blackstone Group is an investment and advisory firm. Their alternative asset management businesses includes the management of private equity funds, real estate funds, funds of hedge funds, credit-oriented funds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds. The Blackstone Group  also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services.
Category:  Private equity
Contact:  Mahendra Mohan Gupta – Chairman and Managing Director
  
Vendor:  Jagran Media Network Private Limited
Vendor Web:  http://www.jplcorp.in 
Location:  India, Kanpur
Region:  Asia
Description:  Jagran Media Network Private Limited will be the promoter holding company of Jagran Prakashan Ltd. (JPL). The group’s flagship brand, Dainik Jagran, was launched during the Quit India movement in 1942 by the revolutionary freedom fighter Late Shri Puran Chandra Gupta, with a vision to “Create a newspaper that would reflect the free voice of the people”. Today, Dainik Jagran has the widest footprints within print media in India, and prints out of 11 states – Uttar Pradesh, Uttaranchal, Punjab, Haryana, Bihar, Jharkhand, Himachal Pradesh, Madhya Pradesh, Delhi, Jammu & Kashmir and West Bengal. JPL’s other interests are across its other newspaper titles – I Next and CityPlus, its outdoor advertising arm below the line solutions, mobile value added services, and its internet foray with Yahoo India, with Jagran.com being the largest portal across all Indian languages.
Category: Newspaper, Media
Contact:  Mahendra Mohan Gupta – Chairman and Managing Director
 
Link: Press Release 
 
 
FDN Database Reference:  F231109-382
 
Contact us at pkelly@fusioncorp.co.uk or visit the Fusion Corporate Partners website

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