A prominent private equity firm based in Canada has emerged as a top contender in the potential acquisition of Clear Channel’s British division, a major player in the global outdoor advertising market. According to sources, Clairvest, headquartered in Toronto, is one of the serious contenders vying to purchase the British and northern European operations of Clear Channel Outdoor Holdings.
Clear Channel Outdoor Holdings, listed on the New York Stock Exchange, has been actively seeking to divest its international assets for some time. Last year, the company announced the sale of its French business to Equinox Industries and revealed plans to offload its assets in the UK, Nordics, and other countries. Additionally, a strategic review of its Latin American business is also underway.
The British division of Clear Channel boasts a vast inventory of 2,000 outdoor advertising sites across Greater London. The company’s international operations were previously under the leadership of Roger Parry, a veteran of the British media industry.
While the exact price that Clairvest or any potential buyer would pay for Clear Channel’s assets remains undisclosed, sources suggest it could amount to several hundred million pounds. Moelis and Deutsche Bank were appointed last year to oversee the sale of Clear Channel’s Europe-North segment.
As of Thursday morning, neither Clairvest nor Clear Channel has commented on the potential acquisition. In other business news, Dr Martens experiences a significant drop in profits, Bondaval secures a new funding boost, and Disneyland performers come together to form a union.
