TX Group-backed Goldbach Group, a media company, completed the acquisition of the Switzerland business of Clear Channel Outdoor Holding, an out-of-home advertising company, for $93m. "The sale of our business in Switzerland is the result of our ongoing review of strategic alternatives for our European businesses and moves toward our goal of optimizing our portfolio in the best interests of our shareholders. This transaction allows us to exit a standalone and lower-priority market at a valuation that we believe reflects the quality of our Swiss assets, which are performing well," Scott Wells, Clear Channel Outdoor Holdings CEO.