Acquisition of MediaNation Inc now unconditional
- Paris
Paris, 25th April 2005 - JCDecaux SA (Euronext Paris : DEC), the number one outdoor advertising company in Europe and number two worldwide, is pleased to announce that the sale & purchase agreement (“Agreement”) entered into by its wholly owned subsidiary, JCDecaux Pearl & Dean Ltd, to acquire a controlling interest in MediaNation Inc, a company listed on the Growth Enterprise Market (“GEM”) of the Hong Kong Stock Exchange, became unconditional on 22nd April 2005. Completion is expected to take place on April 26th 2005. The parties to the Agreement entered into a supplemental agreement on the 22nd April 2005 pursuant to which an amount equal to HK$26.6 million (€ 2.6 m) of the purchase price will be placed in escrow, primarily to secure the recovery of certain amounts payable to the MediaNation Inc group. MediaNation Inc operates advertising services for the Beijing metro network and two lines of the Shanghai metro. It is also the leading supplier of advertising services on the bus network in the People’s Republic of China (15 cities) and holds a contract regarding the installation and advertising on 1,000 newspaper kiosks in Shanghai. In 2004, MediaNation Inc reported revenues of HK$439.6 million (€ 43.1 million), up 17% compared to 2003. Key Figures of the Group- 2004 revenue : €1,627.3M - Listed on Eurolist by Euronext Paris; part of the Euronext 100 and FTSE4Good indexes- N°1 worldwide in street furniture (304,000 faces)- N°1 worldwide in airport advertising with 155 airports and over 150 transport contracts in metros, buses, trains and tramways (157,000Transport faces)- N°1 in Europe for billboards (197,000 faces)- 658,000 advertising faces in 45 countries- Present in 3,500 cities with over 10,000 inhabitants- 6,900 employees