Deals
Ströer Is Said to Explore $4 Billion Sale of Core Billboard Unit
- German media group receives offers for core advertising assets
- Private equity firms H&F, KKR are among potential buyers
Ströer are seeking a valuation of about €4 billion for the media unit, which includes electronic and classic billboards.
Photographer: Hannelore Foerster/BloombergThis article is for subscribers only.
German media group Ströer SE & Co. is in talks on a potential sale of its core advertising business after receiving interest from private equity investors.
The indicative bids for its out-of-home advertising and digital content businesses “have significantly exceeded” the firm’s current market value, Ströer said in a statement on Friday that confirmed an earlier Bloomberg News report. The Cologne-based company has been conducting “open-ended discussions,” which may or may not lead to a deal, it said.