As Silver Eagle Acquisition Corp, the acquisition vehicle formed by media executives Harry Sloan and Jeff Sagansky, sealed a 273.3 million dollar deal with Videocon d2h Limited, India's direct-to-home pay-TV provider has completed its initial listing on the NASDAQ.
The transaction was made after Videocon agreed to distribute 37.75 million shares, worth 453 million dollars, to Silver Eagle's investors, reported Deadline.com.
This made the deal one of the largest investments by a U.S. entity in Indian media.
The report said that Videocon had been leading the industry in active new subscriber growth for the last four years.
The news came after Sloan and Sagansky announced in January that they were at least 303.7 million dollars to acquire 33.5 percent of Videocon d2h.