PT. MNC Vision Networks Tbk (“IPTV”) through its wholly-owned subsidiary PT. Asia Vision Network (“AVN”), the holding company for Vision+, Indonesia’s fastest-growing Over-The-Top media business and MNC Play, the 3rd largest broadband and Fiber Optic Pay-TV operator in Indonesia, and Malacca Straits Acquisition Company Limited (NASDAQ: MLAC), a publicly-traded special purpose acquisition company led by CEO Kenneth Ng, announced that it has entered into a definitive business combination agreement. The transaction implies a Pro-forma enterprise value of $573 million. AVN will continue after the business combination as a new Indonesian US-listed holding company and is expected to trade on NASDAQ.
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