Focus Media Shareholders Approve Take-Private Transaction (Asia)
Posted On: 29 Apr 2013 | Source: Focus Media Holding
Shareholders of Chinese digital media company Focus Media Holding have voted in favor of the company’s plan to delist from the NASDAQ stock exchange. Several private investment firms are involved in the transaction, including The Carlyle Group, FountainVest Partners, CITIC Capital Partners, China Everbright and Fosun International. The deal, which is expected to close in May 2013, is valued at US$3.7 billion, comprised of a US$2.2 billion equity component and a US$1.5 billion debt component.