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Tom Group Acquires Remaining 35% Stake Of Outdoor Media Group For HKD60 Million
May 15, 2009 |
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Tom Group has announced that it will invest HKD60 million to acquire the remaining 35% stake in its affiliate company Tom Outdoor Media Group from Singapore Press Holdings.
The announcement shows that Tom Outdoor Media Holdings and SPH previously owned a 65% stake and a 35% stake, respectively, in Tom OMG. After Tom Group acquires the 35% stake from SPH, Tom OMG will become a wholly-owned subsidiary of Tom Group.
Tom OMG is the advertising flagship of Tom Group and it provides outdoor advertising spaces and relevant services to clients in China. At present, Tom OMG has 15 branches in first-tier cities such as Beijing, Shanghai, and Shenzhen, and second and third-tier cities such as Chengdu, Kunming, Chongqing, and Shenyang, providing one-stop professional services to local enterprises.
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