Apollo to sell its stake in Dish TV

Apollo Global Management, the US private equity major, is selling around 3 to 4% of its stake in Dish TV to raise as much as USD75 million.

Dish TV reported a net profit of INR31 million for the financial year 2015 compared to a net loss of INR 1.5 billion last year. Apollo recently offloaded 3% of its stake in the company for a little over INR2 billion. During the earlier sale, Dish TV shares were trading at 82.04 per unit, reports Television Post. Dish TV sales are now valued at INR109.60.

Apollo had bought 11% stake in Dish TV back in 2009 for USD 100 million. Even after the latest transaction, which will likely be a block trade deal, the equity major will be left with a small portion of the direct-to-home service provider.