Carlyle-Led PE Group Closes $3.7B Focus Media Buyout

Law360, New York (May 24, 2013, 12:45 PM EDT) -- A consortium of private equity firms led by Carlyle Group LP has closed a $3.7 billion leveraged buyout of China's Focus Media Holding Ltd., completing the largest-ever going-private deal by a Chinese company, the Shanghai-based digital advertising agency said Thursday.

Focus Media stakeholders will receive $27.50 per American depositary share, equal to five ordinary shares of the Chinese advertiser. The company has also begun the process of delisting from the Nasdaq Stock Exchange. 

The consortium now in control of Focus Media is led by Washington-based Carlyle,...
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