Date: Nov 17, 2004
Copyright: AASTOCKS.com
BEIJING (XFN-ASIA) - Focus Media (China)
Holding Co Ltd said US investment bank Goldman Sachs Group Inc,
UK-based 3i Group Plc and China's United Capital Investment
Group (UCI) will jointly invest 30 mln usd to help expand the
company.
Focus Media did not say how the 30 mln
usd investment will be spread among the three investors, or
what size stake the combined investment represents.
3i Group is one of the world's leading
private equity and venture capital lenders. UCI is a China
fund management and investment company based in Shanghai.
Focus Media, which was set up in 2003,
said it distributes advertisements for commercial buildings
in 37 cities on its wireless digital network, with monthly
revenue of about 40 mln yuan.
(1 usd = 8.3 yuan)
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