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BUSINESS EYE DECEMBER 09, 2022 | The Indian Eye 32

Prannoy and Radhika Roy step down as

Adani group moves to take over NDTV

Adani Group make an open offer to acquire the next 26 per cent state stake in NDTV,
which will take the group’s total stake to 55.18 per cent

OUR BUREAU
New Delhi/Mumbai
rannoy Roy and his wife
Radhika Roy, founders and
Ppromoters of channel New
Delhi Television (NDTV), resigned
as directors on the Board of RRPR
Holding Private Limited, a promoter
group vehicle of NDTV, the compa-
ny said in a regulatory filing to the
stock exchanges on Tuesday.
RRPR Holding, the promoter
group vehicle of NDTV, holds 29.18
per cent stake in NDTV, which is being
taken over by the Adani group, owned
by businessman Gautam Adani.
“NDTV’s promoter group vehi-
cle RRPRH has approved Prannoy
Roy & Radhika Roy’s resignation
following a meeting held on Novem-
ber 29, the statement read.
“RRPRH has approved Sudip-
ta Bhattacharya, Sanjay Pugalia &
Senthil Sinniah Chengalvarayan as
new directors on Board with imme- NDTV founder Prannoy Roy (left); and Gautam Adani (File photo)
diate effect,” the statement added.
Earlier in August this year, company of NDTV. BSE and NSE, that its indirect sub- and Exchange Board of India (Sebi).
Vishvapradhan Commercial Private Following this, Adani Group sidiary, Vishvapradhan Commercial The Group statement indicated
Limited (VCPL), a wholly owned decided to make an open offer to Pvt Limited (VCPL), had made an that the decision to acquire NDTV
subsidiary of AMG Media Networks acquire the next 26 per cent state open offer to the public sharehold- was arrived at in furtherance of the
Limited (AMNL) which is a 100 per stake in NDTV, which will take the ers of New Delhi Television Ltd. Group’s objective to set up a credi-
cent subsidiary of Adani Enterpris- group’s total stake to 55.18 per cent, However, the Roys hold a 32.26 ble next-generation media platform
es Limited (AEL), exercised the enough to take the ownership right per cent stake in NDTV. with emphasis on digital and broad-
rights and acquired 99.5 per cent of of NDTV. In October, the manager of the cast segments and that NDTV is a
the equity shares of RRPR Holding Earlier in October, the Adani open offer, JM Financial Limited, suitable broadcast and digital plat-
Private Limited, a promoter group Group informed both exchanges, addressed a letter to the Securities form to deliver on this vision.

Israel envoy hails Adani group winning tender to privatize Haifa Port

n Indian company winning Israel has only two Mediterranean SEZ) and Israel’s Gadot Group had 30 per cent. The consortium’s offer
tender to privatize Haifa ports and we are in a sense an island. in July won the tender to privatize the was equivalent to USD 1.18 billion.
APort, a strategic asset for Is- Because our neighborhood is not a Port of Haifa, the second largest port With the acquisition of the Port
rael, is a “wonderful, wonderful sig- friendly neighborhood, so our exit to in Israel, amid stiff competition from of Haifa, Adani Ports & Special
nal,” Israel’s Ambassador to India the Mediterranean sea is crucial for local and global players. Economic Zone Ltd has expanded
Naor Gilon has said and noted that us,” Gilon said in ‘Podcast with Smita Through the winning bid, the its footprint into the European port
the two countries have excellent bi- Prakash’. Adani-Gadot consortium has secured sector, which includes the Mediter-
lateral relations. “We have two ports, one of them the rights to buy 100 per cent shares of ranean region.
The Adani group and its Israel is in the hands of Adani. It is a strategic Haifa Port Company. The concession The Port of Haifa is located
partner Gadot won the tender to asset for Israel. And for the fact that period of the Port of Haifa remains up towards the north of Israel. It is
privatize Israel’s Haifa Port earlier it is put in India’s hand... it is a won- to 2054. close to the city of Haifa, the third
this year. “...Another element that derful, wonderful signal,” he added. The consortium of APSEZ and largest city in Israel. It is also one
I’m very proud to mention is the A consortium of Adani Ports and Gadot Group was formed with their of the major industrial areas of the
fact that Adani won the Haifa Port. Special Economic Zone Ltd (AP- respective shares of 70 per cent and country.

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