Mubadala Capital and U.S.-based TWG Global have agreed to acquire Clear Channel Outdoor Holdings in an all-cash transaction valued at $6.2 billion. The investor group will purchase 100 per cent of the New York Stock Exchange-listed advertising firm for $2.43 per share, representing a 71% premium to its unaffected share price prior to deal speculation.
Clear Channel’s management said the transaction is expected to strengthen financial flexibility by reducing debt and supporting reinvestment into operations. The acquisition remains subject to regulatory and shareholder approvals.
Mubadala Capital, a subsidiary of Mubadala Investment Company, manages more than $430 billion in assets and continues to expand its global investment footprint across diversified sectors.
Gulf Economist Staff Writer