PARIS--(BUSINESS WIRE)--March 17, 2014--
JCDecaux SA (Paris:DEC), the number one outdoor advertising company worldwide, announced that it signed an agreement for the acquisition of 100% of CEMUSA – a FCC Group subsidiary dedicated to outdoor advertising – for an enterprise value of 80 million euros. The closing of the transaction is subject to standard regulatory conditions and the final value of the transaction will be adjusted for standard net debt and debt like adjustments at closing.
Created in 1984, CEMUSA operates in street furniture and transport in five countries: the United States, Brazil, Spain, Portugal and Italy. With 57,000 advertising panels, CEMUSA generated revenues of 142 million euros in 2013.
This acquisition will establish and develop JCDecaux’s presence in the world-class cities of New York, Rio de Janeiro, Brasilia, Madrid, Barcelona, Lisbon and Genoa, and across 41 Spanish airports, including those of Madrid and Barcelona.
Jean-Charles Decaux, Co-Chief Executive Officer of JCDecaux, said: “We are looking forward to this agreement that will allow us to extend our operations in five countries and to benefit from the expertise of CEMUSA’s teams. With this new agreement, we will offer for the first time both a high quality street furniture network delivering prime downtown audiences in the three biggest US markets as well as in San Francisco and Boston and a national street furniture network in Brazil. This will imply further investments in Southern European countries in order to improve our commercial offer in a highly competitive media sector with a strongly consolidated TV market and fast growing internet sector.”
