Global Mediacom to acquire MNC Sky Vision

PT Global Mediacom Tbk plans to acquire 100 percent shares of PT MNC Sky Vision (Indovision) after the holding company of Global Mediacom, namely PT Bhakti Investama Tbk, planned to divest 20 percent shares of MNC Sky Vision.
Global Mediacom plans to buy MNC Sky Vision stocks to boost up shares ownership of the media business group here to paid television company.

Currently Global Mediacom owns 51 percent shares and 24 percent mandatory exchangeable bond (MEB) of MNC Sky Vision. The divestment of 20-30 percent shares of MNC SkyVision target is worth US$150 -US$200 million. Finance advisor to MNC Sky Vision divestment is JP Morgan and Standard Chartered.