JCDecaux HEthe foreign communication company, has announced the signing of a agreement with Clear Channel Outdoor Holdings to acquire its operations in Italy and Spain. These operations are carried out independently and respond to different market opportunities.
The acquisition value (before taking into account cash and net debt positions) of Clear Channel Italia is €15.1 million and that of Clear Channel Spain is 60.0 million euros, or 6.7 times the combined EBITDA of the last 12 months until the end of March 2023 for the two countries, before taking into account the synergies.
The Italian transaction took place today for €9.3 million, after adjustments to take into account estimated net debt and working capital needs. The Spanish operation is expected to be completed in 2024, once the regulatory authorizations have been obtained.
These acquisitions will complete JCDecaux’s presence in Italy and Spain and will allow it to respond even better to the expectations of its customers and consumers in a context of digitization of external communication. In each of these countries, Clear Channel has a national network that covers the entire territory and operates in various segments of foreign communication.
Jean-Charles Decaux, Co-CEO of JCDecaux, has stated: «These two acquisitions, carried out independently, are part of JCDecaux’s selective external growth strategy. The acquisition of Clear Channel in Italy and Spain (subject to Spanish regulatory conditions) complements JCDecaux’s presence in territories that are historical for our Group and that contribute to its dynamism and development. We are very pleased to be able to continue our alliance in Italy with the Du Chène de Vère family, formed 20 years ago, and this acquisition of CCI will allow us to grow IGPDecaux in a very active market. The JCDecaux and Clear Channel teams will be able to combine the best of their strengths to meet the expectations of advertisers, cities and citizens, with a view to developing an increasingly useful and sustainable means of communication.”
key figures of JCDecaux
- Turnover 2022: 3,317 million euros (a)
- World No. 1 in external communication
- Daily audience of more than 850 million people in more than 80 countries
- 1,040,132 advertising faces in the world
- Present in 3,573 cities with more than 10,000 inhabitants
- 11,200 employees
- JCDecaux is listed on Eurolist d’Euronext Paris and is part of the Euronext 100 and Euronext Family Business indices.
- JCDecaux is recognized for its non-financial performance on FTSE4Good (3.6/5), CDP (A-), MSCI (AA) and with a Platinum rating by EcoVadis.
- First external communication company to enter RE100
- Leader in Free Service Bikes – Pioneer of Smooth Mobility
- World No. 1 in street furniture (604,536 advertising faces)
- World No. 1 in transport advertising, with more than 153 airports and 205 transport contracts on subways, buses, trains and trams (333,620 advertising faces).
- No. 1 in Europe for large format (101,976 advertising faces in the world)
- No. 1 in external communication in Europe (654,957 advertising faces)
- No. 1 in external communication in Asia-Pacific (170,973 advertising faces)
- No. 1 in external communication in Latin America (129,305 advertising faces)
- No. 1 in external communication in Africa (24,198 advertising faces)
- No. 1 in external communication in the Middle East (19,371 advertising faces)
(a)Adjusted turnover