Mergers & Acquisitions ·
Clear Channel Outdoor becomes wholly owned subsidiary in $1.3B merger with MIC Capital
CCOClear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. completed a merger transaction that resulted in the company becoming a wholly owned subsidiary of Parent. The total cash consideration payable to equityholders at closing was approximately $1.3 billion. The acquisition was funded by approximately $2.9 billion in equity investments from funds affiliated with Mubadala (MIC Capital Management UK LLP), proceeds from incremental term loans, and the Company's existing cash on hand. This transaction triggered a change of control for Clear Channel Outdoor Holdings, Inc., which operates in the outdoor advertising industry.