Network18 has announced that Nokia Growth Partners has swapped its shareholding in Web18 for Network18 shares, although the company hasn’t informed about the number of shares allocated to Nokia Growth Partners, or the share swap ratio for Web18 shares.
Nokia Growth Partners had picked up an undisclosed stake in Web18 in 2009, apparently for $10 million. A Network18 spokesperson had also told MediaNama then that Network18 was going to settle with Nokia Growth Partners following the amalgamation, and that the stake held by Tracer Capital in Web18 had been bought by Network18 long ago. The Network18 group restructuring came into effect on June 10th 2011.
More on the amalgamation:
– Web18 To Be Merged Into Network18; To Settle With Nokia Growth Partners