|JCDecaux Continues To Consolidate Fragmented German Outdoor Advertising Market|
January 25, 2002 – JCDecaux SA (Euronext Paris: DEC) announced today the purchase of a 50% stake in KlettDecaux, the leading outdoor advertising company in Stuttgart (8 th largest German city with 584,000 pop.) from the Klett family. KlettDecaux also owns a minority stake (35%) in Statdreklame Nürnberg, the leading outdoor advertising company in Nuremberg (14 th largest German city with 487,000 pop.). Both companies have long-term street furniture contracts.
Jean-François Decaux, Chairman of the Board and Co-Chief Executive Officer, said: “Over the last 10 years, we have worked closely with Klett, whose first concession contract with Stuttgart dates back to 1893, to establish a very successful outdoor advertising business. The Klett family has now decided to concentrate on its core business, and this is the reason why we have purchased their outdoor advertising interest.
The German market, which is the largest media market in Europe, has always been a prime focus for JCDecaux. Looking forward, we would like to build on our existing portfolio of assets to establish a national network to meet the increase in demand for both national and regional advertising. The acquisition of this outstanding stake is consistent with our strategy of increasing our market share in the fragmented German outdoor advertising market.”
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