Equinox Industries To Acquire Full Ownership Of Clear Channel France - Quick Facts

(RTTNews) - Clear Channel Outdoor Holdings, Inc. (CCO) has signed a share purchase agreement to sell its business in France to Equinox Industries, a Paris-based industrial holding company. Didier Quillot, Equinox's Senior Advisor, would participate alongside Equinox Industries in the proposed transaction and would be appointed Non-Executive Chairman.

As consideration, Clear Channel would deliver Clear Channel France to Equinox Industries at closing with approximately 42 million euros of cash to support ongoing operations of the business, and Equinox Industries would maintain the approximately 30 million euros state-guaranteed loan held by Clear Channel France.