TV18 Home Shopping Network Limited entered into a definitive agreement to acquire Shop CJ Network Private Limited from CJ O Shopping Co., Ltd (KOSDAQ:A035760) and Providence Equity Partners LLC on September 28, 2017. Under the terms of transaction, TV18 Home Shopping Network Limited will issue new shares, constituting 25% equity in TV18 Home Shopping Network Limited. Upon completion, Shop CJ Network Private Limited will become subsidiary of TV18 Home Shopping Network Limited and TV18 Home Shopping Network Limited shall cease to be a subsidiary of Network18 Media & Investments Limited (BSE:532798). The Board of TV18 Home Shopping Network Limited and Shop CJ Network Private Limited approved the transaction.
TV18 Home Shopping Network Limited completed the acquisition of Shop CJ Network Private Limited from CJ O Shopping Co., Ltd (KOSDAQ:A035760) and Providence Equity Partners LLC on February 15, 2018.