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Providence, Carlyle to invest in APN12/02/2007. Source: AltAssets. 
 An investment consortium comprising Providence Equity Partners, The Carlyle Group and media and communications group Independent News & Media has agreed to acquire all of the issued share capital of Australia's APN News & Media by way of a Scheme of Arrangement. The offer of $6.10 per share values APN at A$3.8bn (or approximately $2.9bn).
The offer has been unanimously recommended by the independent subcommittee of the APN board that assessed the transaction.
INM, Providence and Carlyle said in a joint statement, 'We are pleased that after extensive negotiations we have reached an agreement with APN that delivers immediate and significant value to all stakeholders.'
Providence specialises in equity investments in media, entertainment, communications and information companies.
Carlyle invests in buy-outs, venture and growth capital, real estate and leveraged finance in Asia, Europe and North America, focusing on aerospace and defence, automotive and transportation, consumer and retail, energy and power, healthcare, industrial, technology and business services, and telecommunications and media.
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