Sucheta Dalal :HomeShop18 sells 15% stake to Korean company for $18.5 million
Sucheta Dalal

Click here for FREE MEMBERSHIP to Moneylife Foundation which entitles you to:
• Access to information on investment issues

• Invitations to attend free workshops on financial literacy
• Grievance redressal

 

MoneyLife
You are here: Home » What's New » HomeShop18 sells 15% stake to Korean company for $18.5 million
                       Previous           Next

HomeShop18 sells 15% stake to Korean company for $18.5 million  

November 13, 2009

HomeShop18, India’s first 24-hour home shopping channel, has announced that it has raised $23.5 million or about Rs109 crore as growth capital to fund exceptional growth and rapid expansion of its business.

Korea's GS Home Shopping, earlier known as LG Home Shopping, the world’s 3rd largest home shopping network, bought a 15% stake in HomeShop18, for $18.5 million or about Rs86 crore. Network18 Holdings, a wholly-owned subsidiary of Network18 Media and Investments, will also invest about $5 million or around Rs23 crore in HomeShop18.

The two companies have entered into a strategic co-operation agreement under which GS Home Shopping will lend its expertise in the area of sourcing, merchandising, broadcasting and logistics to scale the HomeShop18 business in India.

This will be facilitated by way of seconding key employees to HomeShop18 as well as training of HomeShop18 employees in Korea.

 


-- Sucheta Dalal