PARIS: JCDecaux SE (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announces that it has concluded an agreement to sell part of its stake in APG|SGA, the leading out-of-home media company in Switzerland, to NZZ a leading Swiss press group who will become the first shareholder of the company. The transaction is expected to be completed in the coming days.
Following the disposal process announced with Pargesa Asset Management S.A. (a fully owned subsidiary of Compagnie Nationale à Portefeuille, an investment company of the Frère Family) announced on February 27th and considering attractive financial and strategic options for its shares in APGISGA, JCDecaux SE will sell 13.56% of APGISGA to NZZ for CHF 220 per share.
Post-transaction, NZZ will hold a 25% stake in APGISGA, making it the largest shareholder, while JCDecaux SE will retain 16.44% and Pargesa Asset Management S.A. 13.86%. This deal will generate cash proceeds for JCDecaux SE of CHF 89.6 million, i.e. c. €90.3 million before transaction costs.
JCDecaux SE confirms evaluating the opportunity to sell its stake in APG|SGA