Blackstone in Indian media deal

Blackstone's investment of $275 million in Ushodaya Enterprises, its largest India private-equity deal to date, is also the largest private-equity deal in IndiaÆs media sector. As part of the transaction Ushodaya will arrange $190 million of bank financing taking total new capital raised to $465 million. The money will be deployed to expand Ushodaya's existing media businesses.Sources close to the deal said Blackstone would acquire a 26% stake in Ushodaya and get proportionate represe…