JCDecaux increases its holding in Wall AG to 35% - Wall AG agrees sale of Clear Channel stake
- Paris
JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company in Europe and one of the largest in the world, today announced that it has signed an agreement with Wall AG (“Wall”) and Clear Channel International Limited (“Clear Channel”) to acquire Clear Channel’s 20% stake in Wall. The transaction, which is still subject to regulatory approval, will increase JCDecaux’s holding in Wall to 35%. The Wall family will retain the remaining 65%. In addition, JCDecaux will also acquire a 50% holding in Wall US.
Commenting on the transaction, Jean-Francois Decaux, Chairman and co-CEO of JCDecaux said: « I have been convinced of the benefits of a partnership between our two companies for a long time and I look forward to a successful future. »
Hans Wall, CEO of Wall AG added: « JCDecaux is our preferred partner for our international expansion.»