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Star Media signs deal to sell Cityneon stake for S$115.6 mil

Mimi Sabreena 7:09:00 PM Informasi

KUALA LUMPUR (May 12): Star Media Group Bhd has inked a deal to sell its 128.46 million shares or a 52.51% stake in Singapore-listed Cityneon Holdings Ltd for S$115.61 million (RM360.18 million) or 90 cent per share.

In a filing with the Singapore Stock Exchange today, Cityneon said Star Media’s wholly-owned subsidiary Laviani Pte Ltd has entered into a conditional share purchase agreement with a special purpose vehicle (SPV) called Lucrum 1 Investment Ltd for the disposal.

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