JCDecaux buys Outfront Media's Latin America business

With a cost of 82 millions of dollars, JCDecaux Latin America/Corameq has reached an agreement to acquire the Outfront Media business in Latin America, which will allow you to strengthen your presence in the area.

Outfront Media has reached an agreement with JCDecaux to sell its Latin American business to JCDecaux Latin America/Corameq, whose 85% is owned by JCDecaux SA. The transaction, amounting to 82 million dollars (74,4 millions of euros), It is expected to be completed during the first half of the year. 2016.

“The sale of the business in Latin America is in line with our strategy to focus our activity on the markets in which we maintain a leading position.”, explains Jeremy Male, President and CEO, Outfront Media.

to 31 December 2014, Outfront Media's activity in Latin America had 11.390 devices in Mexico, Chile, Uruguay, Brazil and Argentina, mainly in large format size. Revenue for the past financial year amounted to 72.500.000 of dollars (65,8 millions of euros).

"This acquisition is a key milestone to strengthen the presence on the continent., Having a solid outdoor advertising platform, composed of more than 55.000 Screens. This will allow us to further accelerate our investment and continue to grow in the different countries in the area.", comments Jean-Charles Decaux, Co-Directeur Général de JCDecaux. The Group will be present in Sao Paulo, Mexico City, Buenos Aires, Rio de Janeiro, Santiago, Bogota, File, Brasilia, Monterrey and Guadalajara.

Acquisition of Outfront Media Latin America business is a strategic move for JCDecaux, as it will strengthen its position in Mexico, A market that is positioned among the 15 largest in the world and the second largest in the area, as well as in Brazil, Chile and Uruguay.

After the closing of the transaction, Outfront Media's international activity will focus on its operations in Canada, which means an annual figure of 82,5 millions of dollars (74,9 millions of euros). Since last December he was in charge of managing 5.984 screens including those located in Vancouver, project carried out in partnership with JCDecaux.

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