Independent News & Media is buying a 20% stake in Indonesian media group PT Abdi Bangsa for $7.5m.
The company publishes Republika, one of Indonesia's highest circulating national daily newspapers. It has media interests in national newspapers, online publishing, radio, magazine and book publishing and outdoor advertising.
INM says its all cash consideration will be partly via a share rights placement for 170 million shares and partly through the purchase of shares from an existing shareholder. The deal is subject to regulatory approval and shareholder approval.
