JCDecaux to acquire a minority stake in Clear Media Limited as part of a consortium of investors
March 30 2020 - 6:57PM
JCDecaux to acquire a minority stake in Clear Media Limited as
part of a consortium of investors
JCDecaux to acquire a minority stake in
Clear Media Limited as part of a consortium
of investors
Paris, March
31st, 2020 –
JCDecaux SA (Euronext Paris: DEC), the number one outdoor
advertising company worldwide, announces to acquire a minority
stake, through its wholly owned subsidiary JCDecaux Innovate
incorporated in Hong Kong, in a consortium of investors which
formed a special purpose vehicle (“Offeror”) to make a voluntary
conditional cash offer to acquire all of the shares in the entire
issued share capital of Clear Media Limited (“Clear Media”), a
company listed on the Hong Kong Stock Exchange.
The offer price of HK$7.12 per share represents
a total value of approximately HK$3,857 million for all Clear
Media’s outstanding shares, of which 23% or HK$887 million
will be funded by JCDecaux.
The consortium composes of Mr. Han Zi Jing,
Chief Executive Officer of Clear Media (“Mr. Han”) at 40%,
Antfin (Hong Kong) Holding Limited (“Antfin”) at 30%, JCDecaux at
23% and China Wealth Growth Fund III L.P. (“CWG Fund”) at 7%.
Clear Channel KNR Neth Antilles NV, a subsidiary
of Clear Channel Outdoor Holdings, Inc., who owns approximately
50.9% of the issued share capital of Clear Media, gave its
irrevocable undertaking to tender its shares in favour of the offer
by the Offeror.
The offer is conditional upon the satisfaction
or waiver of the conditions described in the offer announcement
jointly made by the Offeror and Clear Media today.
Clear Media is the largest operator of bus
shelter advertising panels in the People’s Republic of China
(“PRC”), operating a total of more than 57,000 panels covering
25 cities as of December 31st, 2019.
JCDecaux started operating in Hong Kong in 1999,
Macau in 2001 and Mainland China in 2005, and is the leading
Out-of-Home Media company in Transport advertising (airports, metro
and bus) in the PRC.
Mr. Han Zi Jing is currently the Chief Executive
Officer and Executive Director of Clear Media.
Antfin is a company incorporated in Hong Kong
with limited liability and an indirect wholly owned subsidiary of
Ant Small and Micro Financial Services Group Co., Ltd.
(“Ant Financial”).
CWG Fund is an exempted limited partnership
registered under the laws of the Cayman Islands, whose general
partner is JT China Wealth Management Limited and whose sole
limited partner is Empyrean Management (Hong Kong) Limited, which
is in turn wholly owned by JIC Capital Management (Tianjin)
Limited, a PRC state-owned enterprise and principally engaged in
private equity investment.
Goldman Sachs and Slaughter and May are acting
as JCDecaux’s financial and legal advisors respectively.
Key Figures for JCDecaux
- 2019 revenue: €3,890m
- Present in 3,890 cities with more than 10,000 inhabitants
- A daily audience of more than 890 million people in more
than 80 countries
- 13,210 employees
- Leader in self-service bike rental scheme: pioneer in
eco-friendly mobility
- 1st Out-of-Home Media company to join the RE100 (committed to
100% renewable energy)
- JCDecaux is listed on the Eurolist of Euronext Paris and is
part of the Euronext 100 and Euronext Family Business indexes
- JCDecaux is recognised for its extra-financial performance in
the FTSE4Good index and the MSCI and CDP ‘A List’ rankings
- 1,061,630 advertising panels worldwide
- N°1 worldwide in street furniture (517,800 advertising
panels)
- N°1 worldwide in transport advertising with more than 160
airports and 270 contracts in metros, buses, trains and tramways
(379,970 advertising panels)
- N°1 in Europe for billboards (136,750 advertising panels)
- N°1 in outdoor advertising in Europe (636,620 advertising
panels)
- N°1 in outdoor advertising in Asia-Pacific (260,700 advertising
panels)
- N°1 in outdoor advertising in Latin America (69,490 advertising
panels)
- N°1 in outdoor advertising in Africa (22,760 advertising
panels)
- N°1 in outdoor advertising in the Middle East (15,510
advertising panels)
For more information about JCDecaux, please
visit jcdecaux.com. Join us on Twitter, LinkedIn, Facebook,
Instagram and YouTube.
Corporate
Communications: Agathe Albertini+33 (0) 1
30 79 34 99 – agathe.albertini@jcdecaux.com
Investor
Relations: Arnaud Courtial+33 (0) 1 30 79
79 93 – arnaud.courtial@jcdecaux.com
- 31-03-2020_PR Clear Media_UK vDEF
JCDecaux (EU:DEC)
Historical Stock Chart
From Jun 2024 to Jul 2024
JCDecaux (EU:DEC)
Historical Stock Chart
From Jul 2023 to Jul 2024