JCDecaux completes the take private of Clear Media Limited as part of a consortium of investors
JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announces that a consortium of investors to which it is part of has, through the special purpose vehicle (“Offeror”) owned as to approximately 89% by the consortium and as to approximately 11% by Aimia Inc. (Toronto Stock Exchange: AIM), completed the acquisition of all the remaining shares of Clear Media Limited (“Clear Media”) on September 27th, 2021. As a result, Clear Media is now a wholly-owned subsidiary of the Offeror and the listing of the shares of Clear Media on the Hong Kong Stock Exchange has been withdrawn.
This transaction represents an important step in JCDecaux’s strategy to increase its presence in one of its key markets, China, in particular in its Street Furniture segment with significant growth potential, notably through the acceleration of its digitization.
The consortium comprises Mr. Han Zi Jing, Chief Executive Officer of Clear Media (“Mr. Han”) at 40%, Antfin (Hong Kong) Holding Limited (“Antfin”) at 30%, JCDecaux Innovate (a wholly owned subsidiary of JCDecaux SA) at 23% and China Wealth Growth Fund III L.P. (“CWG Fund”) at 7%.
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 61,000 panels covering 24 cities as of June 30th, 2021.
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 an Executive Director of Clear Media.
Antfin is a company incorporated in Hong Kong with limited liability and an indirect wholly-owned subsidiary of Ant Group Co., Ltd.
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 is principally engaged in private equity investment.
Goldman Sachs and Slaughter and May are acting as JCDecaux’s financial and legal advisors respectively.
2020 revenue: €2,312m – H1 2021 revenue: €1,082.3m
Present in 3,670 cities with more than 10,000 inhabitants
A daily audience of more than 840 million people in more than 80 countries
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 (4.6/5) and CDP (A Leadership) rankings, and has obtained the MSCI AAA score for the 4th year in a row
964,760 advertising panels worldwide
N°1 worldwide in street furniture (489,500 advertising panels)
N°1 worldwide in transport advertising with 156 airports and 249 contracts in metros, buses, trains and tramways (329,790 advertising panels)
N°1 in Europe for billboards (129,970 advertising panels)
N°1 in outdoor advertising in Europe (615,530 advertising panels)
N°1 in outdoor advertising in Asia-Pacific (216,590 advertising panels)
N°1 in outdoor advertising in Latin America (66,120 advertising panels)
N°1 in outdoor advertising in Africa (22,500 advertising panels)
N°1 in outdoor advertising in the Middle East (15,350 advertising panels)
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