Baker & McKenzie Acts for Dish TV India Limited on its Successful US$100 Million Global Depositary Receipts Issue
Deal Announcement
December 22, 2009
Hong Kong, December 22, 2009 – Baker & McKenzie’s US securities team in the Asia Pacific recently acted for Dish TV India Limited (Dish TV) in its issuance of global depository receipts (GDRs) to US-based asset management company Apollo Management, which raised US$100 million. The fund raised will enable Dish TV, India’s pioneer and largest direct-to-home (DTH) service provider, to expand its service and distribution network across India. After the offering, Apollo Management owns 11% of the expanded capital of Dish TV.
The Baker & McKenzie team was led by Ashok Lalwani and Yeo Jih-Shian. The team had lead responsibility for legal documentation, corporate and regulatory issues, and general transaction management.
Commenting on the deal, Ashok Lalwani said, “We are pleased to have acted for Dish TV in this significant transaction. The success of the issue is a testament to the company’s strong management team and the high quality of its DTH offering, and the resiliency of the Indian capital markets. We are confident that this capital infusion will permit Dish TV to grow its business and to go from strength-to-strength."