Silver Eagle Acquisition Corp. (OTCQB: EAGL; EAGLU; EAGLW), founded by Harry Sloan and Jeff Sagansky, today announced that it entered into a transaction agreement on December 31, 2014 with Videocon d2h Limited, which will result in the first U.S.-listed Indian Pay-TV operator. In exchange for cash, the Company will receive new equity shares of Videocon d2h initially valued at no less than $303.7 million representing no less than 33.5% of the equity capital of Videocon d2h. The shares issued by Videocon will be represented by American Depositary Shares (ADSs) which will be distributed directly to Silver Eagle’s stockholders.
Videocon d2h is the fastest growing direct-to-home (DTH) broadcast operator in India as measured by new subscribers. Videocon d2h distributes over 500 digital television channels and other video and audio services to subscribers via direct satellite feeds. Videocon d2h commenced DTH operations in July 2009 and has since grown to a gross subscriber base of 11.8 million and a market share of 16.5% in the Indian DTH market as of September 30, 2014. For the fiscal year ended March 31, 2014, and the six months ended September 30, 2014, Videocon d2h had approximately 27.7% and 26.1%, respectively, of the incremental market share of the DTH subscriber base in India.
Posted in 2015 Recap, Breaking news, Economy, Events, Finance, M&A, Mergers and Acquisitions
Tagged American Depositary Shares (ADSs), direct-to-home (DTH), Golden Networking, Harry Sloan and Jeff Sagansky, M&A Merger and Acquisition, Modern Finance Report, NASDAQ Stock Market, Silver Eagle Acquisition Corp., the Videocon Group, Venugopal Dhoot, Videocon d2h Limited
Confluence Outdoor, the industry’s leading watersports company, has acquired Boardworks, a premier surf and stand up paddle board company based in Carlsbad, California.
Boardworks’ product line includes paddle boards, surf boards, paddles, and accessories under theBoardworks brand name as well as Infinity, Badfish,Morrelli & Melvin, Hynson, Strive, and Hansen.
“We have been carefully and patiently watching the SUP market since it emerged as a growth category in our industry several years ago,” said Sue Rechner, President and CEO of Confluence Outdoor. “We knew SUP would be an integral part of our strategic plan, and we have enjoyed watching the success of Boardworks as we worked towards entering this category. Boardworks has established itself as a true leader and innovator and we are excited to welcome them into the Confluence family of brands. We know this new partnership will provide an even more well-rounded set of offerings to our consumers and will enhance our ability to foster passion and enthusiasm for outdoor adventure.”
Posted in 2015 Recap, Breaking news, Commodities, Economy, emerging markets, Events, Finance
Tagged and Hansen, Badfish, Boardworks, Confluence Outdoor, Cory, Golden Networking, Hargreaves & Savitch LLP, Hynson, Infinity, J.H. Whitney, M&A Merger and Acquisition, Mike Fox, Modern Finance Report, Morrelli & Melvin, Moss Adams Capital, Owner of Boardworks, Procopio, Strive, Sue Rechner, SUP