China In-Focus: Focus Media Sells Internet Unit

August 2, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Focus Media Holding Ltd. (NASDAQ: FMCN), a Chinese digital media group said it has entered into a definitive share purchase agreement with Silver Lake, a private equity firm, under which Focus Media will sell to Silver Lake a 62% indirect equity ownership of its internet subsidiary, Allyes Online Media Holdings Ltd and its consolidated subsidiaries and affiliates.

Under the terms of the agreement, Silver Lake will pay $124 million to Focus Media, in exchange for the equity ownership of Allyes held by Focus Media. Simultaneously with the signing of the agreement, certain remaining shareholders of Allyes also agree to sell their equity ownership in Allyes to Silver Lake, so that following the series of transactions, Silver Lake will own a controlling stake in Allyes.

Allyes is an online media service provider in China offering a suite of interactive marketing solutions and internet advertising technology. Allyes provides its customers with services through its proprietary suite, AdForward, a software application, which has been independently certified and registered in China.

Shanghai-based Allyes has branch offices in Beijing, Shenzhen, Guangzhou and Chengdu.

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