JCDecaux: sells 25% stake in Russ Outdoor
(CercleFinance.com) - JCDecaux announced on Tuesday the sale of its 25% minority stake in Russ Outdoor, the leader in outdoor advertising in Russia.
The French group said it had sold its shares in ROOH, the holding company of Russ Outdoor's activities in Russia, to Stinn, ROOH's main shareholder.
JCDecaux says that it had the opportunity to divest following the exit of ROOH's minority shareholders last October, and because of uncertainty surrounding the consolidation of the Russian market in the post-Covid-19 environment.
The stake was sold for 2.6 billion roubles, or approximately 32 million euros, the group states in a press release.
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