Top Story

e4m_logo.png

Home >> Media - Others >> Article

ICICI Venture to partner with Indian Express Group for Express Towers property

22-January-2008
Font Size   16
ICICI Venture to partner with Indian Express Group for Express Towers property

ICICI Venture, will partner with the Indian Express Group for its Express Towers property. As part of the partnership, ICICI Venture will advise on upgradation and management of the property, and participate in maximising the potential of Express Towers.

The Indian Express Group is also proposing to demerge its publishing business to unlock value and provide impetus, as also give effect to the partnership. BMR Advisors is acting as the transaction advisor to the Indian Express Group.

Viveck Goenka, CMD of the Group, said, “These are exciting times for the Indian Express Group. Our partnership with ICICI Venture is one more step in the resurgence of the Express Group, now celebrating the 75th year of its existence. The coming months will see a sizable investment in all our publications and brands. We have, in the past two years, invested Rs 150 crore in new technologies, units and presses. Going forward, the company plans to focus on building its brands and launching new publications and editions.”

The Indian Express Group was set up in 1932 with the launch of the ‘Indian Express’ newspaper and publishes various other titles, including ‘Financial Express’, ‘Jansatta’, ‘Loksatta’, ‘Screen’, ‘Express Computer’, and operates an online portal Expressindia.com.

ICICI Venture is a leading private equity (PE) fund in India and amongst the early entrants in the Indian private equity domain.

Tags

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Mumbai was chosen in keeping with the company's focus on featuring their proprietary technologies over undiscovered markets like South Asia

The campaign, featuring brand ambassador Farhan Akhtar, exhorts consumers to showcase their achievements through the walls of their homes.

We list a few important stories that you may have missed in the week gone by