Matrix Cellular promoter puts majority stake sale on hold | VCCircle
Join us : Twitter Facebook Linkedin Youtube

Search form

Home >> M & A >>
print icon

Matrix Cellular promoter puts majority stake sale on hold 

BY  Lohit Jagwani
CX Partners invested Rs 166 crore to pick around 38 per cent stake in the company two years ago.

The promoters of CX Partners-backed Matrix Cellular International Services Pvt Ltd, which provides telecommunication solutions for Indians travelling abroad, have put on hold their proposed plan to sell a majority stake in the venture, sources privy to the development told VCCircle.

CX Partners was also expected to part exit from the venture in the deal, where the sellers were looking to sell a little over half of the company for around $100 million. This could have given over 2x returns in part exit for CX Partners in its less than two-year old investment.

The sell-out plan was put...

Register Now
Already registered? Login

A Premium membership gives you:

  • Access to all premium articles including exclusives, analyses & commentary.
  • Access to archives of over six years.
  • Exclusive interviews with top fund managers, CEOs and bankers.
Get Access
Enter your VCCircle username.
Enter the password that accompanies your username.

Upcoming Events

chinetwork

Copyright © 2014 VCCircle.com.
A property of Mosaic Media Ventures Pvt Ltd.