Tata Capital to buy minority stakes in Tata Sky, infra assets

According to the Times of India, TOF will receive fresh shares in Tata Sky, a joint venture between the Tata Group and News Corp-owned Star, which holds a 30% stake. Temasek owns a 10% stake through Bay Tree Investments, bought in 2007 for INR2.5 billion ($45.4 million).

Apollo-backed Dish TV leads the DTH space with 27% of gross subscriber additions, and Tata Sky is second with a 19% share, according to research firm Media Partners Asia.

TOF's other investment is said to be a stake in TRIL Roads, a special purpose vehicle of Tata Realty and Infrastructure, which engages in the highway and roads construction. Actis and TRIL launched a joint venture in 2010 to develop $2 billion worth of projects. Of this sum, TRIL was to invest $122.5 million and Actis contribute $77.5 million.

In March TRIL bought two operational road projects from Hyderabad-based infrastructure company IVRCL, and a third which will begin commercial operations in 2014.

The $600 million Tata Opportunities Fund closed earlier this year, and has invested INR2.2 billion in Roots Corporation, which runs the budget Ginger Hotels chain.

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• Topics
• South Asia
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• Infrastructure
• India
• Tata Capital
• Actis Capital
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