Additional Information


INM sells stake in Indian newspaper group

MUMBAI - Independent News & Media announced today that it has sold the remainder of its holding in Indian newspaper group Jagran Prakashan Limited, owner of the Hindi daily Dainik Jagran, for €32m.

Dainik Jagran: INM sells stake in Jagran Prakashan Limited

Dainik Jagran: INM sells stake in Jagran Prakashan Limited

Share this article

INM said the sale represented the final tranche of its remaining shareholding in JPL, chaired by Mahendra Mohan Gupta, and it would use the cash to further reduce bank debt.

Dainik Jagran is India's best-read newspaper with 37 editions and more than 55.7 million readers.

INM originally invested €28.5m to acquire a 26% stake in 2005 and has received proceeds of around  €96m in total as a result of share sales over the past 14 months.

At the request of the Gupta family, the founders and majority shareholder in JPL, INM chief executive Gavin O'Reilly, will continue to serve as an independent non-executive director of JPL.

O'Reilly said: "It is fitting to recognise that our five year investment in JPL has been a highly profitable one for INM.

"Having been the first international media group to invest in the burgeoning Indian newspaper market in 2005, and having worked with a hugely professional, innovative and world-class management team in JPL, we remain open to the many exciting possibilities in the Indian media market in the future."

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed


The Wall blogs

Dishonour bound External website

by Greg Taylor, 29/01/2015


4 native advertising predictions External website

by Chris Quigley, 29/01/2015


Just jiggle it External website

by Greg Taylor, 28/01/2015


Back to top ^