Thailand’s Sansiri group has taken a stake in monthly international lifestyle magazine Monocle.
The Thai property developer has paid $6m for a 12.5 per cent stake in Monocle in a deal which values the title at $47m (£36m).
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When Nikkei took a 2.8 per cent stake in Monocle in 2014 the group was valued at £70m.
Monocle has a circulation of around 80,000 and also has an online radio station, book publishing and retail division.
Before the Sansiri investment, the holding company of editor-in-chief Tyler Brûlé owned 80 per cent of Monocle.
Brûlé said: “We have a bold plan to expand in the Asian market and connect people with discerning taste to our over-expanding media channels. Sansiri’s invesment will allow is to pursue our ideas with confidence and ambition.”
Monocle has an editorial team of 55 and the magazine is largely reliant on sponsored content for its advertising revenue.