iMedia Ventures eyes 15% stake in Compact Disc India

MUMBAI: Los Angeles-based iMedia Ventures has shown an interest to pick up 15 per cent equity stake in Hyderabad based animation outsourcing company Compact Disc India (CDI).
 
Additionally, iMedia Ventures is also planning to invest $10 million in CDI’s expansion projects. This debt has been offered at 2.5 percent per annum over LIBOR inclusive of withholding tax or other applicable taxes for a period of 10 years.

CDI will consider these matters in its next board meeting, which is scheduled to be held in the third week of October.

Last year, iMedia Ventures and CDI had signed a $19.80 million contract to animate a sci-fi thriller film 3000 BC.

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