JCDecaux Acquires Clear Channel's Italy and Spain Businesses

Continuing with its growth strategy, JCDecaux has acquired the business of Clear Channel in Italy by 15,1 million euros, while that of Spain will amount to 60 Million.

JCDecaux has reached an agreement with Clear Channel Outdoor Holdings to acquire their businesses in Italy and Spain. These operations have been carried out independently and respond to different market opportunities.

The total consideration (in cash, No debt) is from 15,1 million euros for Clear Channel Italy and 60 million euros for Clear Channel Spain. This represents, What it represents 6,7 times the EBITDA.

The closing of the transaction in Italy will take place on 1 with a net consideration of 9,3 million euros, after taking into account the usual closure settings, while the closure in Spain will not take place until 2024, after regulatory approval.

These acquisitions will complement JCDecaux's presence in Italy and Spain and will allow the Group to better serve the needs of customers and public and private owners, in an increasingly digitized outdoor advertising market. In both countries, Clear Channel benefits from a national network with operations in several segments of outdoor advertising.

Jean-Charles Decaux, Co-CEO of JCDecaux, has stated: “These two independent acquisitions are part of JCDecaux's selective external growth strategy. The acquisition of Clear Channel's activities in Italy and Spain will expand the company's footprint in consolidated regions. We are pleased to continue our partnership in Italy with the Du Chène de Vère family, formed more than twenty years ago”.

Other articles about Clear Channel, JCDecaux