Media group Ten Alps Plc, UK, has announced the formation of a majority-owned joint venture (JV) to acquire publisher Reed Elsevier’s Asian assets. The businesses would be added to the company’s Singapore operation, where it also hopes to tie up further JVs.
Under the acquisition deal, Ten Alps Communications Asia Pte Ltd will purchase 10 titles from Reed Business Information Asia, including web sites, events and publications. The titles are Control Engineering Asia, Pharma Asia, Asia Food Journal, Electronics Manufacturing China, Electronics Manufacturing Asia, Television Asia, Asia Image, Payload Asia, Logistics Insight Asia and Travel Weekly China.
The JV entity is 60 percent owned by Ten Alps, the balance being held by Karay Holdings, owned by former RBI Asia executive Raymond Wong, who will run the business. Ten Alps has an option to buy him out by 2013.
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