On Friday evening, Ströer confirmed reports from Bloomberg about a possible sale of its core out-of-home business. According to press reports, the major shareholders around the founders' family foundations are considering a valuation of around four billion euros for the business.
OoH: Ströer Considers Selling its OoH Business
A day after the acquisiton of Clear Channel Outdoor’s Northern European activities by Hamburg-based media group Bauer Media (invidis report), another potential and even larger M&A transaction became public. German OoH market leader Ströer is considering selling its core business, consisting of digital screens and static billboards, to private equity investors.
On Friday evening, Ströer confirmed the market rumors. The Cologne-based media company is in open-ended talks with private equity investors. However, there has not yet been an agreement on the terms and conditions of a possible transaction, including on a possible purchase price.
According to Bloomberg (paywall), the major shareholders – primarily the founding families Müller and Ströer – are aiming for a valuation of around four billion euros.