GBAF Logo
Steve Morgan's Bridgemere Group investment in Barratt Redrow - Global Banking & Finance Review
This image represents the strategic investment of Steve Morgan's Bridgemere Group in Barratt Redrow, highlighting key developments in the UK housing market. The article discusses Morgan's significant stake and its implications for the finance sector.
Finance

Stroeer to explore $4 billion sale of billboard unit, Bloomberg News reports

Published by Global Banking & Finance Review

Posted on January 10, 2025

1 min read

· Last updated: January 10, 2025

Add as preferred source on Google

Stroeer Weighs $4 Billion Sale of Billboard Unit

(Reuters) - German advertising group Stroeer is mulling a potential 4 billion euros ($4.10 billion) sale of its billboard unit, Bloomberg News reported on Friday.

The company is working with advisers and has received interest for its billboard unit from private equity firms including Hellman & Friedman and KKR, the report said, citing people familiar with the matter.

Other buyout firms such as CVC Capital Partners and EQT AB had previously considered deals related to Stroeer, the report said.

The media group's shares jumped 13.7%. Stroeer did not immediately respond to a Reuters request for a comment.

($1 = 0.9752 euros)

(Reporting by Pretish M J in Bengaluru)

Key Takeaways

  • Stroeer is considering selling its billboard unit for $4 billion.
  • Private equity firms like KKR and Hellman & Friedman show interest.
  • CVC Capital Partners and EQT AB had previously considered deals.
  • Stroeer's shares increased by 13.7% following the news.
  • The company is working with advisers on the potential sale.

Frequently Asked Questions

What is the main topic?
The main topic is Stroeer's potential $4 billion sale of its billboard unit, attracting interest from private equity firms.
Who are the interested parties?
Private equity firms such as Hellman & Friedman, KKR, CVC Capital Partners, and EQT AB have shown interest.
How did the market react?
Stroeer's shares jumped 13.7% following the news of the potential sale.

Related Articles

Image for UK's IP Group rebuffs top investor Railpen's $810 million takeover proposal

UK's IP Group rebuffs top investor Railpen's $810 million takeover proposal

Image for Italy cannot hold election next April, economy minister says

Italy cannot hold election next April, economy minister says

Image for Britain brings forward levy on low-value imports

Britain brings forward levy on low-value imports

Image for DHL Group appoints Joe Joseph as new CFO

DHL Group appoints Joe Joseph as new CFO

Image for Explainer-What is the 'Omega Block' causing Europe's intense heatwave?

Explainer-What is the 'Omega Block' causing Europe's intense heatwave?

Image for BoE's Taylor backs extended hold for interest rates

BoE's Taylor backs extended hold for interest rates

More from Finance

Explore more articles in the Finance category

Image for Leapmotor opens battery assembly workshop near Stellantis-CATL plant in Spain
Leapmotor opens battery assembly workshop near Stellantis-CATL plant in Spain
Image for More nations willing to join GCAP jet project, Italy says
More nations willing to join GCAP jet project, Italy says
Image for Meta announces new range of smart glasses starting at $299
Meta announces new range of smart glasses starting at $299
Image for From cool boxes to dawn starts, Europe Inc adapts to heatwave
From cool boxes to dawn starts, Europe Inc adapts to heatwave
Image for French mid-sized firms adopt AI but see few gains, survey shows
French mid-sized firms adopt AI but see few gains, survey shows
Image for Porsche's promised comeback does little to calm investors over China
Porsche's promised comeback does little to calm investors over China
Image for UniCredit CEO says ECB more likely to declare control of Commerzbank given take-up
UniCredit CEO says ECB more likely to declare control of Commerzbank given take-up
Image for Finland may approve Tesla's supervised self-driving software before EU vote
Finland may approve Tesla's supervised self-driving software before EU vote
Image for Putin says Ukrainian infrastructure attacks are an attempt to destabilise Russia
Putin says Ukrainian infrastructure attacks are an attempt to destabilise Russia
Image for EBRD to sign more than €500 million in Ukraine projects this week
EBRD to sign more than €500 million in Ukraine projects this week
Image for Europe must rethink medicine pricing or risk losing investments, pharma lobby chief says
Europe must rethink medicine pricing or risk losing investments, pharma lobby chief says
Image for UK's Reeves nominates former BoE rate-setter Haskel to chair fiscal watchdog
UK's Reeves nominates former BoE rate-setter Haskel to chair fiscal watchdog
View All Finance Posts