Deal In Brief

CVC Capital Partners Asia Pacific III LP, through its subsidiary Asia Link Holdings Limited, has entered into an agreement with PT First Media Tbk to invest $269 million in PT Link Net (LinkNet), a provider of high-speed internet, cable pay TV and data communication services. Both First Media and Link Net are based in Indonesia.

Pursuant to the transaction, CVC Capital will indirectly hold a 49% stake in LinkNet, while First Media will be the controlling shareholder of LinkNet with a 51% interest.

Bank of AmericaMerrill Lynch is acting as financial advisor to First Media and Citigroup, Inc. is acting as financial advisor to CVC Capital. Media Partners Asia acted as industry and DD advisor.

Deal Value (US$ Million): 269
Deal Type: Private Equity
Sub-Category: None
Deal Status: Announced: 2011-03-21

Deal Participants

Target (Company): PT LinkNet
Vendor 1 (Company): PT First Media Tbk
Vendor 2 (Company): Undisclosed Vendors

Deal Rationale

The investment will allow First Media to invest in telecommunication infrastructure.

% Acquisition: 49%

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