US media giant Comcast said Tuesday it was divesting its 15.8 percent stake in the A&E cable channel held through its NBCUniversal unit, getting some $3 billion.In documents filed with the Securities and Exchange Commission, Comcast said it was redeeming its stake in the joint venture with Disney/ABC and Hearst Communications.Comcast, which took control of the vast NBC television enterprise in 2011, said earlier this year it would sell its stake in A&E but had not indicated a price.
NEW YORK (Reuters) - Comcast Corp's NBCUniversal business exercised an option to sell "a substantial portion" of its stake in A&E Television Networks to joint-venture partners, a filing from the media company showed. Comcast, which owns almost 16 percent of A&E, exercised the option on March 26 and expects the deal to close in the second half of 2012, the company said in a filing with the Securities and Exchange Commission earlier this week. "The parties are still discussing how much of the stake will be sold," The Wall Street Journal reported, citing a person familiar with the matter. ...
BANGALORE: Realty major Prestige Estates Projects is set to unveil a little over Rs 1,000-crore deal to acquire a 63.5% stake in Exora Business Park from Red Fort Capital, people directly involved with the matter said. The deal values Exora at Rs 1,600 crore, with 8.5% capitalization rate, a percentage that determines the return on investment on rental assets. Prestige, which owns the remaining minority shares, is taking its stake to 100% through a combination of short-term loans and internal accruals.
Canada’s largest pension fund agreed to pay US$2.5 billion for a minority stake in Glencore Plc’s agriculture unit as the commodity trader and miner works to reduce its debt burden.
Canada Pension Plan Investment Board will acquire a 40 per cent stake in the division which handles wheat, corn, barley, biofuels, cotton and sugar, according to a statement on Wednesday. The deal values the entire business at US$6.25 billion, below a US$10.5 billion valuation from Citigroup Inc. in September last year.
Is Comcast Corp. (CMCSA) on the verge of getting regulatory approval to acquire a controlling stake in NBC Universal (NBCU)? A recent change at the helm of NBCU indicates this. Yesterday, Comcast and General Electric Co. (GE), the current owner of NBCU said in a joint statement that the existing COO of Comcast, Mr. Steve Burke will succeed the incumbent CEO of NBCU Mr. Jeff Zucker by 2010 end.