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Handshake and money

Private equity firm Viola acquires additional RRsat shares for USD9.4m

Israeli private equity company Viola Group has increased its ownership stake in RRsat Global Communications by acquiring an additional 6.6 per cent interest from Kardan Communications L for a total investment of USD9.4m.

"The increased ownership position reflects a significant, ongoing vote of confidence by a leading private equity investment group," says Avi Cohen, RRsat's chief executive officer.
 
Following this transaction, Viola Group owns approximately 28.6 per cent of RRsat's shares. This latest acquisition by Viola Group follows its previously reported acquisitions during 2013 of 15 per cent of RRsat's shares from Kardan Communications and seven per cent of RRsat's shares from David Rivel, RRsat's founder, director and former chief executive officer.


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