Baker and Greg Roumeliotis (Reuters) – The debt-laden parent of outdoor advertising company Clear Channel Outdoor Holdings is exploring options for its European outdoor advertising style after receiving offers from private equity firms, according to four people familiar with the matter.
CVC Capital Partners Ltd is among the buyout firms that have approached Clear Channel with an offer for its European outdoor advertising assets, which could be worth as much as $3 billion, the people said in recent days.
Clear Channel, which generates revenue from brands that rent out space on its signs, has its biggest European markets in France and the United Kingdom.
The company also has billboards in Italy, Sweden, Turkey, Poland and the Baltic regions, according to its website.
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