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JCDecaux Acquires Majority Stake in Wall AG
Holding increased to 90.1%
JCDecaux S.A. (Euronext Paris: DEC), the number 1 outdoor advertiser in Europe and the Asia-Pacific and the number 2 in outdoor advertising worldwide, has become the majority shareholder of Berlin based outdoor advertiser Wall AG. With the acquisition of the shares formerly held by the company's founder Hans Wall, the stake of JCDecaux in Wall AG rises from 40% to 90.1%. Daniel Wall, currently holding 9.9% of shares, will remain Chief Executive Officer of Wall AG, nationally and internationally running the company under its present name from its Berlin headquarters. Hans Wall remains chairman of the board of directors of Wall AG. Both companies agreed not to disclose the price of shares acquired by JCDecaux. The transaction requires the regulatory approval of the German Federal Cartel Office.
Wall-Group was founded in 1976 by Hans Wall. In the preceding business year 2008 it has generated total revenues of 114.7 million euros by marketing 66,000 high quality advertising spaces, 85% of which are located in Germany. Wall holds a strong position as number 2 in the German and Turkish outdoor advertising market, with long-term advertising contracts in cities like Berlin, Duesseldorf, Dortmund, Muenster and Istanbul.
Jean-François Decaux, Chairman of the executive board and Co-CEO of JCDecaux S.A., said:"JCDecaux's acquisition of a majority stake in Wall AG is the logical continuation of the growing together of both companies which is in progress since 2001. Both JCDecaux and Wall are owner operated enterprises with first class products, ideally fitting together and complementing each other. Wall AG has an outstanding position in the German as well as in the Turkish outdoor advertising market. Together we will succeed in making outdoor advertising even more attractive for national customers."
Hans Wall, chairman of the board of directors of Wall AG, said:"By selling the shares we have made a strategic decision. We intended to pave the way for a strong owner who is able to ensure a competitive national and international market position for our company under the direction of my son Daniel Wall."
Daniel Wall, Chief Executive Officer of Wall AG, said:"Our new majority owner JCDecaux shares our philosophy and vision of quality. From now on, we can enter the competition for advertising contracts with municipalities from an even stronger basis. Furthermore we will actively put the synergies from the cooperation between our companies to the benefit of our advertising customers.