Clear Channel Outdoor Enters Agreements To Sell Its Businesses In Italy And Spain To Subsidiaries Of JCDecaux SE For Total $80.5M Gross Proceeds
Portfolio Pulse from Benzinga Newsdesk
Clear Channel Outdoor (CCO) has entered agreements to sell its businesses in Italy and Spain to subsidiaries of JCDecaux SE for a total of $80.5 million. The company plans to use the net proceeds to improve liquidity and increase financial flexibility, subject to debt agreement limitations.
May 30, 2023 | 9:08 pm
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Clear Channel Outdoor (CCO) is selling its businesses in Italy and Spain to JCDecaux SE subsidiaries for $80.5 million, aiming to improve liquidity and financial flexibility.
The sale of Clear Channel Outdoor's businesses in Italy and Spain will provide the company with additional funds, which will be used to improve its liquidity and increase financial flexibility. This is likely to have a positive impact on the company's stock price in the short term, as it demonstrates the company's ability to monetize its assets and strengthen its financial position.
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