BEIJING: Carlyle Group, which raised the most funds in Asia this year, said it will invest US$20mil for a stake in Time Share Advertising & Communications, a Chinese provider of low-cost outdoor advertising billboards.
Time Share, founded last year, uses a real-time database to manage the advertising time and cost of the nearly 60,000 outdoor billboards in the country, providing up to 50% in savings to advertisers, according to a Carlyle statement yesterday, which did not specify the stake it was buying in Time Share.