BUREN has advised on the acquisition of the minority shareholders’ stake in Russ Out of Home B.V., being the Dutch parent company of Russ Outdoor LLC, Russia’s largest outdoor advertising operator, by the owners of Vera-Olymp (the third largest operator in the sector) and the financing thereof. The sale price exceeded RUB 4 billion and was financed by VTB Bank, with VTB also retaining its equity interest in the company alongside JCDecaux.
The target group was founded in 1995 under the name APR City, with News Corp acquiring a stake in 2000, which led the group to changing its name to News Outdoor Russia. In 2003, News Outdoor Russia became part of the News Outdoor Group, which established its headquarters in Moscow. New Corp sold its stake to a consortium of investors in 2011, with a further sale of a minority interest to the French outdoor operator, JCDecaux in 2012.
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