JCDecaux increases its stake in Gewista
- Paris
JCDecaux SA (Euronext Paris: DEC) and B&C Holding have decided to terminate their partnership agreement in Austria and Central Europe, signed in April 2001. Following the completion of this transaction, JCDecaux will increase its holding to 67% of Gewista, the leader in outdoor advertising in Austria.
Through Gewista, JCDecaux operates street furniture, billboard and transport advertising in Austria, the Czech Republic and Slovakia. In partnership with Affichage Holding, and via their common subsidiary Europlakat International, JCDecaux also has outdoor advertising activities in Hungary, Slovenia, Serbia, Bosnia, Croatia and Bulgaria.
JCDecaux is the market leader in outdoor advertising in Austria and in Central Europe, where outdoor accounts for around 8% of the advertising market (world average is around 6%), and is growing steadily.
Commenting on this transaction, Jean-François Decaux, Chairman of the Executive Board and co-CEO said: « The increase of our stake in Gewista is consistent with the Group’s consolidation strategy in Europe, where 40% of the outdoor European market is still held by independent operators. JCDecaux, from Vienna, has a strong platform to further grow its business, to win street furniture tenders, to contribute to the modernisation of Central European cities, and to play a major role in the on-going market consolidation in that region.»