China’s Focus Media agrees to buyout for USUS$3.7b

Display-advertising provider Focus Media Holding said it had agreed to be acquired by a consortium led by Carlyle Group for about US$3.7 billion in what would be the largest ever private equity deal in China.

Leveraged buyouts backed by foreign private equity firms have been few and far between in China, a country famous for its capital controls and restrictive regulations. At least two thirds of Focus Media shareholders must now approve the deal.

via Business feed http://www.scmp.com/business/companies/article/1108891/chinas-focus-media-agrees-buyout-usus37b