Friday, December 4, 2009

Para Group raise financing US$1 billion

Para Group owned by Chairul Tanjung attained financing commitment worth US$1 billion to fund the acquisition of lifestyle media and industry with international networks.
The group has got financing commitment from US and European banks worth above US$1 billion.
Para Group has three business lines, financial services under Mega Corpora. Media, lifestyle, and entertainment sectors are controlled by Trans Corpora, and natural resources sector under the control of CT Global Resources.
The acquisition action for global scale lifestyle media and industry is executed as the corporate expansion which has so far had business of the sector through the subsidiary firm, PT Trans Corpora.
Trans Corpora has plans to issue US$300-600 million bonds next year which will be projected for the development of Southeast Asia region studio.
In the past six years, Para Group keeps acquiring companies. Two years ago, Para Group took over PT Mahagaya Perdana, PT Naryadelta Prarthana (Baskin Robbins), and PT Anta Express Tour & Travel Services Tbk. At the same time three new companies were established, namely Trans Living and CTG Property and multifinance corporations, Mega Auto Finance and Mega Central Finance.
Para Group also owns retail sector business with major possession in Bandung Supermall. In 2007, Chairul played in agribusiness sector by prepareing IDR5 trillion funds.
In 2008, Para Group prepared an acquisition of medium scale bank with IDR8 trillion acquisition fund prepared.
Mid this year, Chairul is said targeting online news portal, Detikcom, which is one of the business divisions of PT Agranet Multicitra Siberkom. The rumor spreads out when two minor shareholders of Detikcom, Tiger Investment and Mitsui & Co, intend to sell the stocks for business expansion.
Mitsui and Tiger Investment assigns Credit Suisse to offer their stocks. Agranet owns 59 percent of Detikcom, Tiger 39 percent, and Mitsui 2 percent.

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