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02-Dec-2008 | ||||||
GulfMerger Advises Al Rai Media on the 100% Acquisition of Publisher Printing Press and Sale of Al Rai Television | ||||||
Al Rai Media Group announced today the 100% acquisition of Publisher Printing Press Company WLL for $183 million and the sale of 100% of Al Rai Television Company WLL for $78 million. Al Rai Media Group will continue to manage Al Rai Television as part of a long-term management agreement. GulfMerger acted as sole financial adviser to Al Rai Media Group. GulfMerger advised Al Rai Media Group on its overall financial reorganization as well as the valuation and deal structuring for both the acquisition of Publisher Printing Press and the sale of Al Rai Television, particularly ensuring that Al Rai Media Group would emerge stronger and more profitable. "Today, as a result of these two deals, Al Rai Media Group ranks as one of the most profitable media companies worldwide even in comparison to some of the largest global media companies such as Dow Jones and the New York Times" added Yann Pavie, CEO and founder of GulfMerger.
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