Indian cable distribution company, DEN Networks Limited has secured an equity investment of $110 m (approximately Rs 600 crores) from the global investment bank and active investor in cable and broadband, Goldman Sachs.
Indian cable distribution company, DEN Networks Limited has secured an equity investment of $110 m (approximately Rs 600 crores) from the global investment bank and active investor in cable and broadband, Goldman Sachs.
According to the release issued over the development, it said that the investment will be used for funding DEN Network’s growth plans. DEN Networks sees Goldman Sachs as a valuable partner and shareholder and looks forward to learning from Goldman Sachs’ global knowledge and experience as one of the world’s largest diversified financial companies, the release added.
Sameer Manchanda, Chairman & Managing Director, DEN Networks said, “I am sure DEN Networks will gain immensely through our association with one of the most renowned names in global finance. We at DEN Networks are looking forward to learning from Goldman Sachs’ vast global knowledge and experience across industries and functions.”
Ankur Sahu, Co-Head of private equity in Asia at Goldman Sachs, said, “We are delighted to partner with a very reputable and highly experienced entrepreneur at DEN Networks. We believe the cable industry in India is at an important inflection point and look forward to working closely with the management team to build the preeminent cable and broadband business in India.”
Goldman Sachs has invested actively in cable and broadband related companies in several countries, including Cequel and Marcus Cable (US), Diamond Cable (UK), e-Access (Japan), Kabel Deutschland (Germany), C&M (Korea), Cablecom (Switzerland) and Get (Norway).
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