Sole Advisor to Alva Brothers Entertainment in Acquiring JV Stakes From Turner Asia Pacific Ventures.

Alva Brothers Entertainment Ltd. (ABE) has agreed to buy stakes held by Turner Asia Pacific Ventures, Inc. (Turner), a subsidiary of Turner Broadcasting System, Inc. and a Time Warner company, in a joint venture for TV content production and a film production company, as well as take over operating control of a broadcasting joint venture.

Avendus Capital was the exclusive financial advisor to ABE.

In 2007, Turner bought a 29% stake in ABE-promoted Miditech Pvt Ltd (Miditech), one of India’s largest TV content production houses. ABE and Turner are also equal partners in Real Global Broadcasting Pvt Ltd (Real), which launched Hindi entertainment channel “Real TV”. RGB also recently formed a film production studio company, Matchbox Films Pvt Ltd (Matchbox Films). ABE now holds 100% of the shares of Miditech and Matchbox Films, and has also taken operating control of Real. Commenting on the acquisition, Nikhil Alva, Managing Director of ABE said, “The purchase of the shares was important to us, as we are now free to pursue our expansion plans. We are charting a course that leverages our strengths and experience in creating edgy content for India’s youth, to put all platforms on a high-growth track.”