India Dealbook: 3i exits UFO Moviez; Blackstone trims holding in Gokaldas

By Bhawna Gupta

July 23, 2016

In two market transactions, 3i has exited its investment in UFO Moviez while Blackstone has pared its holdings further in Gokaldas Exports.

3i exits digital cinema distribution network co UFO Moviez

British private-equity firm 3i Group Plc has sold its entire 10 per cent stake in UFO Moviez India Ltd, digital cinema distribution network and in-cinema advertising platform through an open market transaction.

The PE firm had invested in the company back in 2007 and marked the full exit in three tranches. Earlier in 2011, it had sold some part of the stake and then in 2015, it further trimmed its holding in the digital cinema firm.

UFO Moviez India is the country’s largest digital cinema distribution network and in-cinema advertising platform in terms of number of screens. The company operates India’s largest satellite-based, digital cinema distribution network using its UFO-M4 platform, as well as India’s largest D-Cinema network. It was listed in public domain last year in May.

Shares of UFO Moviez were trading at Rs 592.05 per share, up 7.25 per cent on BSE in a strong Mumbai market on Friday.

Blackstone trims holding in Gokaldas Exports, sells 7.4% more

Private equity giant Blackstone has further reduced its holding in garment exporter Gokaldas Exports Ltd on Wednesday.

After selling 10 per cent stake in the company last month, the PE firm has now sold an additional 7.4 per cent stake at a loss.

Blackstone sold shares at Rs 113.5 each to ICICI Bank for Rs 29.2 crore ($4.3 million).

Gokaldas Exports’s scrip last exchanged hands at Rs 105.50 each, up 0.67 per cent on BSE in a strong Mumbai market on Friday.

Also Read:

3i Group to sell Mayborn unit to Shanghai Jahwa for $197m

PE major 3i Group eyeing exit from facility management firm BVG India, to sell 30%

India digest: Blackstone part-exits Gokaldas, TVS invests $11m, Paytunes gets funded

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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