Reuters - Carlyle-Led Group Buys Focus Media Holding
Display-advertising provider Focus Media Holding Ltd. said on Wednesday it had agreed to be acquired by a consortium led by Carlyle Group for about $3.7 billion in what would be the largest ever private equity deal in China. Focus Media, which operates advertising screens in offices, elevators and supermarkets across China, has faced persistent allegations from short-seller Muddy Waters that it overstated its assets and overpaid for acquisitions, Reuters reported. This did not faze Carlyle and some of China's top private equity funds, which made an offer for the company in August together with the chief executive of the company, Jason Nanchun Jiang.
20 December 2012•3 mins read
