JCDecaux Completes Take-Private of Clear Media in China
JCDecaux announced the completion of the acquisition of Clear Media Limited as part of an investor consortium, resulting in the company's delisting from the Hong Kong Stock Exchange.
JCDecaux SA, a global leader in outdoor advertising, has finalized the take-private acquisition of Clear Media Limited. The transaction, completed on September 27, 2021, through a special purpose vehicle, makes Clear Media a wholly-owned subsidiary of the acquiring entity. Consequently, the listing of Clear Media's shares on the Hong Kong Stock Exchange has been terminated.
This move is described by JCDecaux as a strategic step to enhance its presence in China, a key market. The company aims to strengthen its position in the street furniture advertising segment, anticipating significant growth potential, particularly through accelerated digitization.
The investor consortium behind the acquisition comprises Mr. Han Zi Jing, CEO of Clear Media (40%), Antfin (Hong Kong) Holding Limited (30%), JCDecaux Innovate (23%), and China Wealth Growth Fund III L.P. (7%). Clear Media operates as the largest provider of advertising panels at bus shelters in China, managing over 61,000 panels across 24 cities as of June 30, 2021.
JCDecaux has been operating in China since 2005 and is recognized as a leading Out-of-Home Media company in the transport advertising sector, covering airports, metros, and buses.