JCDecaux to Acquire 25 Percent of Russ Outdoor (CEE and CIS)

Source: VTB Capital

VTB Capital, the investment arm of Russian financial services firm VTB Group, has announced an agreement to sell a 25 percent stake in Russ Outdoor, a local outdoor advertising company, to French global outdoor advertising company JCDecaux. Under the terms of the transaction, which is pending anti-monopoly approval, JCDecaux will merge the Russian assets of its subsidiary BigBoard with Russ Outdoor. Financial details of the deal were not disclosed.