JLM Pacific Epoch
14th Feb 2008
Megan Ko
Singapore Temasek Holdings' subsidiary MediaCorp entered into agreements on February 13 to purchase a 27.74 percent stake in Jiangsu-based outdoor advertising company DAHE Media Co., Ltd. (8243.HK). DAHE Media said the deal, which would make MediaCorp its ad space sales agent through 2010, will help DAHE Media expand internationally. MediaCorp has agreed to purchase 154 million new domestic shares, approximately 18.6 percent of existing issued share capital, from DAHE Media at a discounted price of HK$0.5776 per share. The Singaporean company has agreed to acquire a total of 69 million shares from Nanjing Pukou Ink Printing Factory, Yan Jian and Zhu Weimin while it has signaled its intention to acquire an additional 50 million DAHE Media shares from Nanjing High-Tech Venture Capital Co., Ltd.
http://www.pacificepoch.com/newsstories/116196_0_5_0_M/
