Media Prima Berhad Acquires 100% of Rev Asia
Wong & Partners, the member firm of Baker McKenzie International in Malaysia, advised Media Prima Berhad ("MPB") in connection with its proposed acquisition, through its wholly-owned subsidiary Media Prima Digital Sdn Bhd ("MPD"), of the entire share capital of Rev Asia Holdings Sdn Bhd ("Rev Asia") from Rev Asia Berhad and Youth Asia Sdn Bhd for a total purchase consideration of MYR 105 million.
MPD will acquire Rev Asia's subsidiaries which are involved in the business of advertising, publication and internet social media services. Rev Asia is one of Southeast-Asia's leading digital media businesses and the acquisition will create Malaysia’s largest digital media company.
Partner Munir Abdul Aziz led the team that advised MPB and he was supported by senior associate Hong Sze Chen, as well as associates Jacklyn Lim and Cheng Wei Cheah.
"It has been a privilege for us to advise Media Prima Berhad and its digital media division in this landmark transaction which will enable it to make a significant leap forward in continuing to build its digital media platform," said Munir.
"We expect that the transaction will set a marker for M&A deals that involve the acquisition of online assets by growth driven media companies. We are fortunate to have been able to apply our capabilities across our Corporate and Intellectual Property teams to navigate the complexities involved in the deal."