30 May 2005
Macquarie Bank today announced that it had signed an agreement to invest in CJ CableNet, a leading Korean digital cable operator, as a part of a consortium of investors.
The consortium, which includes Excelsior Capital Asia, ABN AMRO Merchant Banking group and Kookmin Bank, will invest a total of at least KRW150 billion (AUD195 million)into CJ CableNet.
Country Head of the Macquarie Group of Companies in Korea, John Walker, said CJ CableNet represents an attractive investment target given Macquarie's global track record in the technology, media, entertainment and telecoms (TMET) sector and its extensive operations in Korea and Asia.
"This investment in CJ CableNet provides a natural diversification for our Korea business into the TMET space, which is another core focus for Macquarie.
"CJ CableNet is a leader in digital media and entertainment and is regarded as one of the most technically advanced multi-system operators in Korea. It has a reputation in the market as a well respected and profitable company," Mr Walker said.
CJ CableNet said it will use the investment to fund its digital CATV strategy and expand its ISP and existing cable TV operations.
Macquarie is the largest specialist investment bank domiciled in the Asia-Pacific region and has a pre-eminent position in the media sector in the region and in the UK through its advisory and ECM businesses, communications infrastructure fund and other direct media interests.
For further information, please contact:
Macquarie Bank Limited
Tel: (612) 8232 4102
Mobile: (614) 1069 9532