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Judul : Sources: Star board gives green light for stake sale in Cityneon
link : Sources: Star board gives green light for stake sale in Cityneon
Sources: Star board gives green light for stake sale in Cityneon
PETALING JAYA (May 11): Star Media Group Bhd's board has given the green light for the sale of its 52.5% stake in Singapore-listed Cityneon Holdings Ltd -- a unit that is currently contributing about one third of its revenue, according to sources familiar with the matter.
The stake sale will enable Star Media to unlock the value of its investment in the republic. The deal is expected to bring in more than RM350 million to the media group’s cash coffer, which was about RM500 million as at Dec 31, 2016. Its borrowings were approximately RM201.7 million.
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