KUALA LUMPUR – Media Prima Bhd’s indirect wholly-owned unit, Media Prima Digital Sdn Bhd, has entered into a conditional sale and purchase agreement with Rev Asia Bhd (Rev) and Youth Asia Sdn Bhd to acquire the entire stake in Rev Asia Holdings Sdn Bhd for RM105 million.
Rev Asia Holdings is a 70-per cent owned unit of Rev, and the remaining 30-per cent shares is owned by Youth Asia.
In a filing to Bursa Malaysia today, Media Prima said the proposed acquisition is expected to provide the company with an opportunity to solidify its presence in the digital publishing business, which is in turn expected to facilitate the continued growth of the enlarged MPB group moving forward.
“The proposed acquisition provides synergistic benefits to Media Prima.
“Our track record of success in traditional media and commitment to further grow the digital presence, makes the proposed acquisition an ideal arrangement to significantly expand our reach, while solidifying our position as the leading digital publisher in Malaysia,” it said. – BERNAMA