JCDecaux Acquires Clear Channel’s Businesses in Italy and Spain
May 31, 2023
Cleary Gottlieb represented JCDecaux in its acquisition of Clear Channel’s businesses in Italy and Spain.
The two separate transactions signed on May 30, 2023, for a combined enterprise value of €75 million.
The transaction in Italy was not subject to any conditions and closed on May 31, 2023. The transaction in Spain is subject to the clearance of the Spanish antitrust authority and is expected to close in 2024. These acquisitions will complement JCDecaux’s presence in Italy and Spain.
Present in 3,573 cities of more than 10,000 inhabitants and with annual revenue of 3.3 billion, JCDecaux is the number one outdoor advertising company worldwide, with a daily audience of more than 850 million people in more than 80 countries. JCDecaux has 11,200 employees and is listed on Euronext Paris.