- Clairvest eyes acquiring Clear Channel’s UK and Nordic assets
- Clear Channel selling assets, including 2,000 Greater London sites
- Sale price estimated at several hundred million pounds
Clairvest, a Canadian acquisition firm, has emerged as a potential buyer for the billboard company that operates 2,000 advertising sites in Greater London.
A Canadian private equity firm has emerged as a prominent contender for the acquisition of the British branch of Clear Channel, one of the world’s largest sellers of outdoor advertising space.
Sky News has learned that Clairvest, a Toronto-based company, is one of the parties that has expressed a significant interest in acquiring the British and northern European operations of Clear Channel Outdoor Holdings.
The billboard advertising group, which is listed in New York, has been attempting to liquidate its international assets for some time.
It announced last autumn that it had transferred its business in France to Equinox Industries and had commenced a process to sell its assets in the UK, Nordics, and several other countries.
It also stated that it was conducting a strategic review of its operation in Latin America.
Two thousand outdoor ad sites in Greater London comprise Clear Channel’s British inventory.
“Invest in your future with Webull UK – get started with free shares.”
Roger Parry, a British media industry veteran, previously served as its international operations manager.
One industry source suggested that the price that Clairvest or another buyer would pay Clear Channel for the assets was likely to be several hundred million pounds. However, the exact amount needed to be determined.
Last year, it disclosed that Deutsche Bank and Moelis were granted the authority to dispose of its Europe-North segment.
On Thursday morning, Clairvest and Clear Channel could only be reached for comment.
