Rev Asia to buy 52pc of Vocket
Kuala Lumpur: Rev Asia Holdings Sdn Bhd, an indirect wholly-owned subsidiary of Media Prima Bhd, has entered into a conditional share sale purchase agreement with Jaffa Sany Mohd Ariffin to acquire 520,000 ordinary shares in Vocket Media Sdn Bhd for RM2.6 million.
In a filing to Bursa Malaysia on Tuesday, Media Prima said the share acquisition represented a 52 per cent equity interest in Vocket, making the latter an indirect subsidiary upon completion.
"The proposed acquisition is in line with the transformation plan of Media Prima and its subsidiaries to expand its digital business given that Vocket owns a fast-growing social-millennial Malay digital news site in Malaysia.
"The proposed acquisition is expected to provide Media Prima with the opportunity to solidify its presence in the digital publishing business, which in turn is expected to facilitate the continued growth of the group moving forward," it said. – Bernama