JCDecaux announces the acquisition of Clear Channel's businesses in Italy and Spain

JCDecaux announces the acquisition of Clear Channel'sbusinesses in Italy and SpainParis, May30 th, 2023 – JCDecaux SE(Euronext Paris: DEC), the number one outdoor advertising company worldwide, announces that it has entered into agreements with Clear Channel Outdoor Holdings, Inc. to acquire its businesses in Italy and Spain. These deals were conducted independently and address different market opportunities. The total consideration (cash - debt free basis) is €15...

Neuilly sur Seine, 30/05/2023 (informazione.news - comunicati stampa - editoria e media)

JCDecaux announces the acquisition o f Clear Channel 's businesses  in Italy and Spain

Paris, May 30 , 2023 – JCDecaux SE (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announces that it has entered into agreements with Clear Channel Outdoor Holdings, Inc. to acquire its businesses in Italy and Spain. These deals were conducted independently and address different market opportunities. The total consideration (cash - debt free basis) is €15.1 million for Clear Channel Italy and €60.0 million for Clear Channel Spain representing 6.7x last 12 months EBITDA at the end of March 2023, on a combined basis for the two countries, pre-synergies.

The completion of the transaction in Italy will occur tomorrow with net consideration of €9.3 million, after taking into account customary closing adjustments, while the closing in Spain should occur in 2024, after regulatory approval.

These acquisitions will complement JCDecaux's presence in Italy and Spain and enable the Group to address customers and public as well as private landlords' needs better than ever, in an increasingly digitised outdoor advertising market. In both countries, Clear Channel benefits from a nationwide network with operations in several outdoor advertising segments.

Jean- Charles Decaux, Co-CEO of JCDecaux , said: "These two independent acquisitions are part of JCDecaux's selective external growth strategy. The acquisition of Clear Channel's businesses in Italy and Spain (subject to standard regulatory approval in the case of Spain ) will extend JCDecaux's footprint in established regions, thereby boosting the Group's momentum and development. We are pleased to continue our alliance in Italy with the Du Ch è ne de Vère family , formed more than twenty-years ago. This acquisition of CCI will allow u s to develop IGPDecaux o n a highly dynamic market. The JCDecaux and Clear Channel teams will harness their combined expertise to fulfil the expectations of advertisers, cities and citizens alike, to develop more than ever a service-oriented and sustainable media ."

Key Figures for JCDecaux

            (a) Adjusted revenue

For mor information about JCDecaux, please visit jcdecaux.com
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Communications Department : Albert Asséraf
+33 (0) 1 30 79 79 10 – albert.asseraf@jcdecaux.com

Investor Relations : Rémi Grisard
+33 (0) 1 30 79 79 93 – remi.grisard@jcdecaux.com

 

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