30th May 2008 07:00
INDEPENDENT NEWS & MEDIA PLC
MAKES INVESTMENT IN INDONESIAN MEDIA SECTOR
Ticker: (Bloomberg) INM ID/ INM LN and (Reuters) INME.I/ INME.L
Dublin/London -- 30th May 2008: Independent News & Media PLC ['INM'] today announces that it will purchase 20.0% of PT Abdi Bangsa TBK (ABBA.JK), a leading Indonesian media group, and publisher of 'Republika', one of Indonesia's highest circulating national daily newspapers, for an investment of circa USD$7.5 million.
PT Abdi Bangsa TBK is listed on the Jakarta Stock Exchange and has diversified media interests in national newspapers, online publishing, radio, magazine and book publishing, and outdoor advertising. PT Abdi Bangsa TBK's principal shareholder is Mahaka Media/ Erick Thohir - who will retain an interest of 52% post-issue in the enlarged capital structure of PT Abdi Bangsa TBK.
INM's all cash consideration will be partly via a share rights placement for 170.0 million shares at Rupiah 250 per share and partly through the purchase of shares from an existing shareholder to bring INM's stake upto 20.0%. This transaction is subject to normal regulatory and PT Abdi Bangsa TBK shareholder approval.
As part of this transaction, it will be proposed to the shareholders of PT Abdi Bangsa TBK that Gavin O'Reilly, group chief operating officer of INM, be elected to the Board. Commenting on the announcement, Gavin O'Reilly stated:
"We are extremely pleased to be investing with Erick Thohir in PT Abdi Bangsa and to be part of the exciting and rapidly developing Indonesian media market. This strategic investment once again demonstrates INM's commitment to and successful strategy in developing geographic diversity in high-growth markets."
Ends 30th May 2008
For further information, please contact:
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Gavin O'Reilly Dónal Buggy |
Chief Operating Officer Chief Financial Officer |
+353 1 466 3200 +353 1 466 3200 |
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Media Pat Walsh Murray Consultants (Dublin) Tel: +353 1 498 0300 |
Paul Durman/Keith Brookbank Powerscourt (London) Tel: +44 20 7250 1446 |
Paul Keary Financial Dynamics (New York) Tel: +1 212 850 5600 |
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Investors and Analysts Mark Kenny/ Jonathan Neilan K Capital Source (Dublin) Tel: +353 1 631 5500 Email: [email protected] |
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Notes for Editors | Quick Facts on Indonesia:
The Republic of Indonesia - with a population of over 225 million people - is the world's 4th most populous country and most populous Muslim-majority nation. Jakarta is the capital city, and Indonesia has a democratically elected parliament and president.
Indonesia is one of the world's fastest growing economies in the world, with estimated Gross Domestic Product (GDP) for 2007 of US$408 billion (US$1,038 bn PPP), with the services sector (incl. media) representing over 45.0% of GDP, followed by industry (c. 40.0%) and agriculture (14.0%). Major industries include petroleum and natural gas, textiles, apparel, and mining/ extractive industries. Major agricultural products include palm oil, rice, tea, coffee, spices, and rubber. Key export markets include Japan, the United States, China, and Singapore - and the country runs a trade surplus.
ABOUT INDEPENDENT NEWS & MEDIA PLC
- CORPORATE PROFILE -
INM is a leading international newspaper and communications group, with its main interests in Australia, India, Ireland, New Zealand, South Africa and the United Kingdom. Spanning four continents, 10 major markets and 22 individual countries, INM has market-leading newspaper positions in Australia (regional), India, Ireland, New Zealand and South Africa. In the United Kingdom, it publishes the flagship national title, The Independent, as well as being the largest newspaper group in Northern Ireland.
Across these regions, the Group publishes over 200 newspaper and magazine titles, delivering a combined weekly circulation of over 32 million copies with a weekly audience of over 100 million consumers and includes the world's largest read newspaper, Dainik Jagran, in India. The Group has established a strong and growing online presence, with over 100 editorial, classified and transactional sites.
INM is the largest radio operator - over 130 stations and an audience of almost six million people - and outdoor advertising operator in Australasia and also has leading outdoor advertising positions in Hong Kong, Malaysia, India, Indonesia and across Africa.
The Group has grown consistently over the last 15 years by building a geographically unique and diverse portfolio of market-leading brands, and manages gross assets of €4.7 billion, revenue of €1.9 billion and employs approximately 9,600 people worldwide. Further information is available on the Group's website www.inmplc.com.
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