Clairvest Emerges as Contender for Clear Channel UK
Toronto private equity firm considering buying UK OOH
The British inventory includes 2,000 outdoor ad sites across Greater London
Clairvest, a Toronto-based private equity firm, is a top candidate to acquire the British division of Clear Channel, one of the globe’s biggest outdoor advertising space sellers.
Sky News reported that Clairvest is among the parties that have expressed serious interest in acquiring Clear Channel Outdoor Holdings’ British and northern European operations.
Clear Channel Outdoor has been selling its international assets. Last fall it announced the sale of its France business to Equinox Industry. They had also announced that they were preparing to sell their UK, Nordic, and other European assets. Clear Channel is also conducting a strategic review of its business in Latin America.
The British inventory includes 2,000 outdoor ad sites across Greater London.
Its international operations were once run by Roger Parry, the British media industry veteran.
The price that Clairvest or another buyer would pay Clear Channel for the assets was unclear, although one industry source said it would likely be several hundred million pounds.
Moelis and Deutsche Bank were given the mandate to sell its Europe-North segment, it said last year.
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