CaucusCom Ventures, Fursa Alternative Strategies woo Metromedia shareholders

14 August 2007

CaucusCom Ventures L P, which has a binding merger agreement with Georgia's Metromedia International Group, Inc, has urged Metromedia shareholders to tender into its fully financed, all cash $1.80 per share offer that is currently scheduled to expire on 14 August, 2007.

CaucusCom Ventures L P is a holding company affiliated with Salford Georgia, the local Georgian office of an international private equity and investment management firm Salford Capital Partners Inc., and Bermuda-based Compound Capital Limited, a subsidiary of UK's private investment firm Sun Capital Partners Ltd (not related to the US-based Sun Capital).

Metromedia has interests in internet, communications and media businesses, in Georgia formerly a part of the USSR.

Calling a rival bid from Fursa Alternative Strategies LLC an "illusion" designed to boost a final sale price, CaucusCom Ventures LP urged shareholders of Metromedia International Group Inc. in a statement to accept its $185 million buyout.

CaucusCom said it would not increase its $1.80 per share offer because of a bid from Fursa Alternative Strategies LLC.