With the move, CCO’s France business is looking to strengthen its leadership position in the outdoor advertising market under local ownership.
As consideration, Clear Channel would deliver Clear Channel France to Equinox Industries at closing with approximately €42 million of cash to support ongoing operations of the business, and Equinox Industries would maintain the approximately €30 million state-guaranteed loan held by Clear Channel France.
The parties are aiming to complete the deal in the coming weeks.
