*Sequoia Capita*l has exited its investment in *Times Internet Limited* by selling its stake to the company itself.
The investment was made in 2005 by *WestBridge Capital* which was bought by *Sequoia* in 2006 after the merger. Transaction Reference: MediaNama<http://www.medianama.com/2010/03/223-indiatimes-buys-back-sequoia-capital-stake/> Transaction Note In October 2005, Indiatimes had issued Sequoia Capital India Investments Holdings II, 2,396,000 “Participatory Optionally Convertible Preference Shares” of Rs. 10 per share at a premium of Rs. 121.98 per share. At that time, this amounted to around $7 mn. These shares were mandatorily convertible into equity shares latest by October 2012, and could be redeemed by Sequoia Capital at any time after October 2009 Times Internet Ltd, incorporated in 1999, is the internet venture of *Bennett, Coleman and Co. Ltd* which offers internet and Mobile VAS. It operates the domain indiatimes.com In 2008, the compay acquired 50% stake in *Webnotions Books India*, which runs online book marketplace called A1Books.co.in. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
