Carlyle-backed Focus Media to Relist in China via $7B+ Deal
June 04, 2015
Focus Media, a portfolio company of The Carlyle Group and several other investors, is set to relist in China as part of a reverse merger with Jiangsu Hongda New Material. The so-called "backdoor listing" is part of an agreement that values Focus Media at ¥45.7 billion ($7.4 billion), nearly double what a Carlyle-led consortium paid to take it private in 2013. Focus Media is a multiplatform digital media company that operates one of the largest LCD display networks in China; its other backers include CITIC Capital Partners, Fosun and FountainVest Partners.