Bakrie Group's Visi Media Asia to Sell 15% Stake in ANTV to Repay Debt

Visi Media Asia will sell a 15 percent stake in subsidiary Intermedia Capital, which operates free-to-air television ANTV. (JG Photo/Jurnasyanto Sukarno)

By : Sarah Yuniarni | on 1:19 PM September 03, 2016
Category : Business, Corporate News

Jakarta. Visi Media Asia, the Bakrie Group's listed media holding company, is planning to sell a 15 percent stake in its broadcaster unit Intermedia Capital via a private placement to repay debt at Credit Suisse, a senior official from Visi Media said on Friday (02/09).

Intermedia operates free-to-air television ANTV.

"We are still looking for a potential buyer," Visi Media's president director Anindya Bakrie said during a stakeholder meeting in Jakarta.

Viva seeks to pay around $160.8 million worth of debts to Swiss banking giant Credit Suisse, which is due in November 2017, according to the company's published prospectus from July 27. The amount is the remainder of $230 million loans secured in 2013.

Visi Media controls 90 percent of Intermedia Capital, 5.4 percent belongs to the local arm of the multinational life insurance company Prudential Life Insurance, and the rest is owned by public.

The divestment will reduce Visi Media's control in ANTV to 75 percent.

 

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