Stroer sold 90% stake in Stroer Kentvizyon to Murat Ilbak for €15m.

Stroer sold its Turkish out-of-home media business. The former co-shareholder Murat Ilbak acquired the 90% shareholding in Stroer Kentvizyon for a transaction value of around €15m. “The macroeconomic situation in Turkey is looking increasingly gloomy. Due to this and in light of the upcoming tender, we consider a continuation of our by far most significant contract in Ankara unlikely. This is why we decided to take the final step and sell our Turkish company.” Udo Muller, Stroer Founder and Co-CEO