Sabah-ATV Group offered for sale at USD 1.1bn.

Wednesday, September 05, 2007

Sabah-ATV Group offered for sale at USD 1.1bn. The deposit saving insurance fund (SDIF) has set an estimated value of USD 1.1bn for Sabah-ATV Group which will be auctioned on November 7. The package offered for sale include daily Sabah, TV channel ATP, 4 other smaller newspapers, one radio station, some magazines, one printing house, broadcasting rights and some other assets. The deadline to apply for pre-qualification is Oct 15 and final bids will be collected in Nov 6. The fund will receive bids in sealed envelops and will later hold an auction between eligible (short-listed) bidders. In April, the SDIF took over Sabah and ATV when the fund found out that former owner of the companies, Dinc Bilgin and last owner Turgay Ciner, concealed some protocols and contracts from the SDIF.