Warburg Pincus’s affiliate will acquire up to a 20% equity stake in Bharti Telemedia, the DTH arm of Bharti Airtel, for around $350 million. Of this, 15% stake will be sold by Bharti Airtel and the balance by another Bharti entity which holds 5% stake. Warburg Pincus is a global private equity firm focused on growth investing.
Bharti Telemedia is one of the largest Direct-To-Home (DTH) paid TV service providers in India and offers services under the Airtel TV brand. It had around 14 million subscribers and around $550 million in revenues during the 12-month period ended September 30, 2017.
Upon closing of the transaction, Bharti Airtel will own an 80% equity stake in Bharti Telemedia.
