Saban Capital Group takes 5% stake in Media Nusantara
Saban Capital Group, the Los Angeles-based private equity firm controlled by billionaire Haim Saban, has purchased a 5% stake in PT Media Nusantara Citra from PT Global Mediacom for INR692 billion ($78.2 million). Saban Capital, which is investing through its affiliate Indonesia Media Partners, also has a 27-month call option that could see it take another 2.5% interest in the company.
Media Nusantara has agreed to increase its dividend payout to at least 45% of net income generated during the preceding year, from 2012. The transaction is expected to close in mid-November. The company...
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