Tuesday 03. November 2015
OUTFRONT Media and JCDecaux Sign a Purchase and Sale Agreement for the Latin America Business of OUTFRONT Media
OUTFRONT Media Inc. (NYSE: OUT) and JCDecaux SA (Euronext Paris: DEC) announced today that they have entered into an agreement to sell the Latin America business of OUTFRONT Media to JCDecaux Latin America / Corameq, which is 85% owned by JCDecaux SA. The purchase price is $82 million cash, subject to working capital and indebtedness adjustments. The transaction is expected to close in the first half of 2016, subject to customary closing conditions including regulatory approval.