JCDecaux buys Clear Channel's Italian and Spanish businesses

Continuing with its growth strategy, JCDecaux has acquired the business of Clear Channel in Italy for 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 its 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 Italia and of 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 occur on 1 June with a net consideration of 9,3 million euros, after taking into account the usual closing settings, while the closure in Spain will not occur 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 clients and public and private owners., in an increasingly digitalized 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 declared: “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 established regions. We are pleased to continue our alliance in Italy with the Du Chène de Vère family, formed more than twenty years ago”.