APG main shareholders sell their shares to NZZ

The APG|SGA outdoor advertising group is undergoing changes in its shareholder structure. As announced in February, the two main shareholders JCDecaux SE and Pargesa have sold part of their holdings in a coordinated move. NZZ is now acquiring a total stake of 25 percent.

APG billboards at Bahnhofplatz Zurich. (archive picture)

NZZ will pay CHF 220 per share, as APG announced on Thursday. An agreement to this effect has been signed. The transaction is to be completed in the coming days.

NZZ would then be the new majority shareholder of APG. After completion of the transaction, JCDecaux SE will still hold 16.44 percent and Pargesa Asset Management SA 13.86 percent. Previously, they held around 30 percent and a good 25.3 percent respectively.

The two parties to the sale announced their intentions in February. The Board of Directors of APG then initiated a process to find a potential buyer for the entire company.

The Chairman of the Board of Directors of APG, Daniel Hofer, who was previously employed by NZZ, is quoted in the press release as follows: "Over the past few months, the Board of Directors of the company has examined various options regarding the future composition of the company's shareholder base in a comprehensive process."

The acquisition of a 25 percent stake by NZZ from JCDecaux SE and Pargesa Asset Management S.A. is "a convincing result of this process" for the company and all stakeholders, said Hofer.

Accordingly, a representative of NZZ is to be elected to the Board of Directors of APG at the upcoming Annual General Meeting. (SDA)

More articles on the topic