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Investment in Abdi Bangsa
Independent News & Media PLC makes investment in Indonesian media sector
Ticker: (Bloomberg) INM ID/ INM LN and (Reuters) INME.I/ INME.L
Dublin/London -- 30th May 2008: Independent News & Media PLC
[‘INM’] today announces that it will purchase 20.0% of PT Abdi Bangsa TBK (ABBA.JK), a leading Indonesian media group, and publisher of 'Republika', one of Indonesia's highest circulating national daily newspapers, for an investment of circa USD$7.5 million. PT Abdi Bangsa TBK is listed on the Jakarta Stock Exchange and has diversified media interests in national newspapers, online publishing, radio, magazine and book publishing, and outdoor advertising. PT Abdi Bangsa TBK’s principal shareholder is Mahaka Media/ Erick Thohir – who will retain an interest of 52% post-issue in the enlarged capital structure of PT Abdi Bangsa TBK.
