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News Outdoor Acquired by VTB Capital, Alfa Capital Partners, Peter Gerwe

Files under: News
Posted by: admin @ 04:22 [22. 07. 11]

The investment consortium of VTB Capital, Alfa Capital Partners and private investors including Peter Gerwe has agreed to acquire a 79% stake in News Outdoor, the largest Out-of-Home (OOH) advertising company in Russia, for more than $270 million, reported Vedomosti. The enterprise value of News Outdoor was $426 million including debts of $153 million, according to newspaper RBC Daily. The management of News Outdoor including Managing Director Maxim Tkachev will hold a 21% stake in the company.

Founded as APR-City in 1995, News Outdoor has over 50,000 advertising faces in 85 Russian cities. News Corporation became a shareholder of News Outdoor in 2000. Its annual revenues are estimated at over $200 million.

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