(News Bulletin 247) – The JCDecaux share posted one of the strongest increases in the SBF 120 index on Tuesday morning on the Paris Stock Exchange, while its American competitor Clear Channel entered into exclusive negotiations with the French investment fund Equinox with a view to selling its activities in France.
According to the scheme envisaged, Didier Quillot, one of Equinox’s partners, would accompany the completion of the operation before being appointed non-executive chairman of Clear Channel France, once the transaction has been concluded.
The transaction, the financial terms of which have not been disclosed, should be finalized in the course of the 4th quarter of 2023.
Observers speak of ‘good news’ for JCDecaux as the two groups are due to compete in Paris in the coming months in the information furniture display market which was won by Clear Channel in 2019, and which runs until September 2024.
Around 9:30 a.m., JCDecaux shares posted gains of more than 0.7% in a Parisian market in slight decline (-0.1%).
Holding based in Paris, Equinox Industries invests, as majority shareholder, in companies in which it sees an ‘industrial’ potential in a long-term approach.
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