Latin America: JCDecaux buys out minority interests in Corameq

JCDecaux S.A. (Euronext Paris: DEC), the number one outdoor advertising company worldwide announces that it has acquired 100% of Corameq, a holding company of Eumex, after acquiring the stakes of the two founders and non-controlling shareholders: Antonio Torres and Carlos de Meer.
 
In March 2014, JCDecaux announced the acquisition of 85% of Eumex, a Latin American street furniture group active in Mexico, Guatemala, El Salvador, Costa Rica, Panama, Colombia and Chile.
 
This first major buyout gave JCDecaux a foothold in six new Latin American countries and launched a phase of rapid expansion in the region. This was followed by a string of mergers and acquisitions, including the acquisition of the Latin American business of OUTFRONT Media in April 2016, an alliance with Caracol Televisión in Colombia in June 2016, a merger with Top Media Central America in December 2016 and a merger with América Móvil in Mexico in October 2017.
 
Now active in 15 Latin American countries, JCDecaux is the number one outdoor advertising company on the continent with over 94,000 advertising panels on Street Furniture, Billboards, Transports, Airports and Shopping Centres. In the last five years, JCDecaux has successfully consolidated, modernised and rejuvenated what was a highly fragmented local advertising market. Its ambition is to continue developing and accelerating the digital transformation of its products and services across the different zones of the region.
 
Antonio Torres and Carlos de Meer, founders of Eumex, said: “Years ago, when we decided to invest in the Outdoor Advertising industry, we had in mind the model laid down by Jean-Claude Decaux, an extraordinary entrepreneur and an exemplary human being. Jean-Claude Decaux left behind not just a world-leading company in its sector, but also a second generation that followed in his footsteps, not only as entrepreneurs but also as exemplary people. Our admiration for Jean-Claude Decaux and Jean-Charles Decaux, along with the friendship that binds us, was key to our decision to entrust them with the company we had built up over many years with our own hands. The results are there for all to see. We are embarked on a new entrepreneurial venture in Spain, with the satisfaction of having contributed to a transition that was successful in every way, while always maintaining our friendship with the great Decaux family.”

Jean-Charles Decaux, Chairman of the Executive Board and Co-Chief Executive Officer of JCDecaux, said: “In 2013, we decided with Antonio Torres and Carlos de Meer, the Eumex founders, to join forces in Latin America and together become the number one outdoor advertising company on the continent. I am happy with the excellent growth we have seen since, through partnerships and acquisitions struck over these 5 years of collaboration. The in-depth knowledge of the region and its markets that Antonio and Carlos brought to the table was fundamental to the success of an expansion programme that has delivered a 136% growth in five years in the region since we joined forces. We’re grateful for their commitment and their entrepreneurial spirit and wish them every success in their new life after outdoor advertising.”