Focus Media Sells Allyes to Sliver Lake

Focus Media PR, 8/02/10

Chinese digital media group Focus Media (Nasdaq: FMCN) today announced that it has entered into a definitive share purchase agreement with global IT private investment firm Silver Lake to sell its 62% indirect equity ownership in online advertising subsidiary, Allyes Online Media Holdings Ltd. Under the terms of the agreement, Silver Lake will pay USD 124 mln to Focus Media, in exchange for the equity ownership of Allyes held by Focus Media. Simultaneously with the signing of the agreement, certain remaining shareholders of Allyes also agree to sell their equity ownership in Allyes to Silver Lake, so that following the series of transactions, Silver Lake will own a controlling stake in Allyes. The transaction is expected to close soon, subject to customary closing conditions.

Keywords: M&A divest Focus Media Internet online advertising Allyes Silver Lake FMCN

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