Focus Media agrees to be taken private for $3.6 bln

Wed Dec 19, 2012 2:04pm EST

Dec 19 (Reuters) - Chinese display-advertising provider Focus Media Holding Ltd said on Wednesday it agreed to be bought by a consortium of private equity funds led by Carlyle Group, for about $3.6 billion.

The offer of $27.50 per American depositary share, each representing five ordinary shares, represents a premium of 15 percent to the ADS's Tuesday closing.