Paramount Global Shares Rise After Controlling Shareholder Gets $125 Million Investment Deal

Shares of Paramount Global rose by more than 6% on Friday after its controlling shareholder, media mogul Shari Redstone’s National Amusements Inc, announced it had received a $125 million investment from a private equity firm.

National Amusements said it had agreed a $125 million preferred equity investment from BDT Capital Partners to help the U.S. movie theater operator cut its interest expense and pay down borrowings, according to a statement on Thursday.

BDT Capital Partners, which is a private equity firm backed by Dell Inc founder Michael Dell and billionaire investment banker Byron Trott, will be issued warrants to purchase 3.5 million of Paramount Global’s non-voting shares owned by National Amusements at a strike price of $15 as part of the deal, the Wall Street Journal reported.

Read the source article at finance.yahoo.com