LUXEMBOURG (dpa-AFX) - RTL Group intends to strengthen its production business with two acquisitions. The content subsidiary Fremantle will buy the French Asacha Media Group from Oaktree Capital Management, the media group announced on Tuesday in Luxembourg. RTL CEO Thomas Rabe intends to put a total of more than 200 million euros on the table for the takeover and the majority stake in the Singaporean production company Beach House Pictures. The purchase is to be completed in the second quarter. According to insiders, the acquisition of Asacha Media Group is one of the largest in recent years.

"With these acquisitions, Fremantle is well on the way to achieving its sales target of three billion euros and effectively doubling its global video production business within five years," said the manager according to the press release. According to the Group, RTL Group has already added 13 companies to its portfolio over the past three years.

According to reports, Asacha Media Group is expected to contribute a three-digit million euro amount to the RTL Group's consolidated revenues and a two-digit million euro amount to its earnings before interest, taxes, depreciation and amortization (EBITA)./ngu/rin/he