PT Asia Vision Network and Malacca Straits Acquisition in an 8-K filing included an investor presentation highlighting their proposed merger.
Announced in March, the transaction implies a pro-forma enterprise value of $573 million. The deal is expected to pour more than $130 million in cash into Vision+.
AVN will continue after the business combination as a new Indonesian US-listed holding company and is expected to trade on the Nasdaq.
The target’s Vision+ is Indonesia’s fastest growing Over-The-Top media business and MNC Play, as well as the third-largest broadband and IPTV operator in Indonesia. The company has 1.6 million paiud subscribers and 32 million monthly users. Read more.
