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SEEK Ltd Announces Minority Investment In One Africa Media

Wednesday, 19 Jun 2013 07:25pm EDT 

SEEK Ltd announced that it has invested USD20 million for a 25% stake in One Africa Media (OAM). Following the investment in OAM, SEEK will appoint one Director to the Board, hold typical minority shareholder protections and will account for OAM as an Associate. The investment has been funded via SEEK’s cash reserves. Post-investment SEEK’s Net Debt balance is AUD260 million. 

Company Quote

0.09 +0.54%
11:33pm EDT