Capital International backs Philippines media conglomerate
Capital International has invested PHP2.5 billion ($60.7 million) in ABS-CBN Corporation, the Philippines’ largest media and entertainment company. The funding will be used to support ABS-CBN’s platform expansion, including boosting its digital terrestrial television offering.
According to a regulatory filing, Capital International Private Equity Fund VI and its affiliates will buy new Philippine Deposit Receipts (PDRs) issued by ABS-CBN with a value of PHP43.225 apiece. This...
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