AI Terminal
TX Group AG
M&A Activity • Dec 22, 2022
996_rns_2022-12-22_863c4979-364d-436f-ab59-1a77df86ae18.html
M&A Activity
Open in ViewerOpens in native device viewer
News Details
Ad-hoc | 22 December 2022 06:24
TX Group and its daughter company Goldbach Group to acquire Clear Channel Switzerland
TX Group / Key word(s): Mergers & Acquisitions/Takeover
22-Dec-2022 / 06:24 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Goldbach Group is already active in the Out-of-Home (OOH) advertising business through its majority stake in Neo Advertising (52.3 percent). The acquisition of Clear Channel Switzerland will expand the Out-of-Home business into a substantial cornerstone in terms of sales and earnings. An agreement has been reached with the minority shareholders of Neo Advertising to merge the company with Clear Channel Switzerland and to buy out their shares at a later date.
The expansion of the Out-of-Home business follows TX Group's strategy. On a historical basis, the combined sales volume of Neo Advertising and Clear Channel Switzerland reaches over CHF 100 million. The purchase price amounts to CHF 86 million (enterprise value without cash or liabilities). The transaction is subject to clearance by the Swiss Competition Commission.
Pietro Supino, Chairman of the Board of Directors of TX Group: "The acquisition of Clear Channel Switzerland is a good enhancement to the strategically important Out-of-Home advertising business. We see further profitable growth potential in the segment."
Michi Frank, CEO Goldbach Group: "The consolidation of Clear Channel Switzerland and Neo Advertising will considerably increase our offering in the Out-of-Home segment. Our portfolio will become even more attractive for advertising clients and, above all, we will be able to offer a wide-coverage range of Out-of-Home advertising spaces."
Contact
Ursula Nötzli, Chief Communications & Sustainability Officer TX Group, +41 76 462 52 45, [email protected]
Iris Blättler, Head of Communications Goldbach, +41 44 914 91 16, [email protected]
About TX Group
TX Group forms a network of platforms and associates that offers users information, orientation, entertainment and assistance for their daily lives. Its roots lie in journalism with Tamedia’s diverse newspapers and the media offered by 20 Minuten. The portfolio is supplemented by the advertising marketer Goldbach. TX Group is the anchor shareholder of the SMG Swiss Marketplace Group and of Jobcloud, holds majority interests in Doodle and Zattoo and is involved in the area of fintech as a venture investor. The company, established in 1893, has been listed on the Swiss stock exchange since 2000.
About Goldbach Group Ltd
The companies in the Goldbach Group Ltd market and broker advertising space on TV and radio as well as in print, online and mobile media; their activities also include outdoor advertising and performance marketing. The focus is on straightforward information, advisory and reservation processes. We pursue a consistent multi-channel approach to reach the end consumer at the right time, in the right place and in the right context. The Goldbach Group Ltd, which has its registered office in Küsnacht, operates mainly in Switzerland, Austria and Germany. Goldbach is a TX Group company.
End of Inside Information
| Language: | English |
| Company: | TX Group |
| Werdstrasse 21 | |
| 8021 Zürich | |
| Switzerland | |
| Internet: | www.tx.group |
| ISIN: | CH0011178255 |
| Valor: | 1117825 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1519451 |
| End of Announcement | EQS News Service |