JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announces that a consortium of investors to which it is part of will, through the special purpose vehicle (“Offeror”) wholly owned by the consortium, make a voluntary conditional offer to take Clear Media Limited (“Clear Media”), a company listed on the Hong Kong Stock Exchange, private.
The consortium comprises Mr. Han Zi Jing, Chief Executive Officer of Clear Media (“Mr. Han”) at 40%, Antfin (Hong Kong) Holding Limited (“Antfin”) at 30%, JCDecaux Innovate (a wholly owned subsidiary of JCDecaux SA) at 23% and China Wealth Growth Fund III L.P. (“CWG Fund”) at 7%.
The Offeror currently owns approximately 88% of Clear Media’s share capital.
The offer is conditional upon the satisfaction or waiver of the conditions described in the offer announcement jointly made by the Offeror and Clear Media today.
Aimia Inc. (Toronto Stock Exchange: AIM), who owns approximately 11% of the issued share capital of Clear Media, gave its irrevocable undertaking to tender its shares in favour of the offer. Once Aimia tenders its shares for acceptance of the offer, the offer will become unconditional as to acceptance.
Clear Media is the largest operator of bus shelter advertising panels in the People’s Republic of China (“PRC”), operating a total of more than 59,000 panels covering 24 cities as of December 31st, 2020.
JCDecaux started operating in Hong Kong in 1999, Macau in 2001 and Mainland China in 2005, and is the leading Out-of-Home Media company in Transport advertising (airports, metro and bus) in the PRC.
Mr. Han Zi Jing is currently the Chief Executive Officer and an Executive Director of Clear Media.
Antfin is a company incorporated in Hong Kong with limited liability and an indirect wholly-owned subsidiary of Ant Group Co., Ltd.
CWG Fund is an exempted limited partnership registered under the laws of the Cayman Islands, whose general partner is JT China Wealth Management Limited and whose sole limited partner is Empyrean Management (Hong Kong) Limited, which is in turn wholly-owned by JIC Capital Management (Tianjin) Limited, a PRC state-owned enterprise, and is principally engaged in private equity investment.
Goldman Sachs and Slaughter and May are acting as JCDecaux’s financial and legal advisors respectively.
- 2020 revenue: €2,312m
- Present in 3,670 cities with more than 10,000 inhabitants
- A daily audience of more than 840 million people in more than 80 countries
- 10,230 employees
- Leader in self-service bike rental scheme: pioneer in eco-friendly mobility
- 1st Out-of-Home Media company to join the RE100 (committed to 100% renewable energy)
- JCDecaux is listed on the Eurolist of Euronext Paris and is part of the Euronext 100 and Euronext Family Business indexes
- JCDecaux is recognised for its extra-financial performance in the FTSE4Good, MSCI and CDP (Climate Change) rankings
- 964,760 advertising panels worldwide
- N°1 worldwide in street furniture (489,500 advertising panels)
- N°1 worldwide in transport advertising with 156 airports and 249 contracts in metros, buses, trains and tramways (329,790 advertising panels)
- N°1 in Europe for billboards (129,970 advertising panels)
- N°1 in outdoor advertising in Europe (615,530 advertising panels)
- N°1 in outdoor advertising in Asia-Pacific (216,590 advertising panels)
- N°1 in outdoor advertising in Latin America (66,120 advertising panels)
- N°1 in outdoor advertising in Africa (22,500 advertising panels)
- N°1 in outdoor advertising in the Middle East (15,350 advertising panels)