Announced
Completed
Financials
Sources
Tags
Minority
Public
Acquisition
Completed
Friendly
Single Bidder
China
advertising
Media Agencies
Synopsis
Aimia, which provides loyalty management services intended to attract and retain customers and stimulate demand for its partners' products, completed the acquisition of a 10% stake in Clear Media, an operator of bus shelter advertising panels, for $75m. "Aimia's investment in Clear Media represents an outstanding opportunity, diversifying our holdings and taking advantage of the Covid-19 related economic malaise in the US and China. Aimia now owns a large stake in a leader in the outdoor advertising market in China with more than a 20-year track record, strong growth and free cash flow generation, and 19 years as a public company, backed by a blue-chip consortium of investors and a highly skilled management team," Phil Mittleman, Aimia Interim CEO.
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