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Royal Bafokeng Holdings and JCDecaux complete the acquisition of Africa’s N° 1 outdoor advertising firm, Continental Outdoor Media - Royal Bafokeng Holdings
Community-owned investment holdings company Royal Bafokeng Holdings (RBH) today announced it has finalised a strategic partnership with the world’s N° 1 outdoor advertising group, JCDecaux SA, to acquire Continental Outdoor Media.
Continental is Africa’s N° 1 outdoor advertising company operating in 14 countries across the continent. It is well known for its billboards and advertising in transport hubs such as airports and taxi ranks across Africa.
RBH acquired a 30% stake in Continental in a deal that will see both RBH and JCDecaux (with a 70% stake) actively participating in Continental’s further expansion into Africa. This is in line with RBH’s diversification strategy, which is focused on increased exposure in high growth industries
“We are delighted with this partnership with JCDecaux as we share a similar long term investment philosophy, which is focused on investing in companies that are run by strong management teams. Continental reflects our long-term investment approach and our commitment to the African market,” said Brett Nagle, RBH’s Head of Investment.
About Royal Bafokeng Holdings (RBH)
RBH is a community based investment company and is the primary investment vehicle of the Royal Bafokeng Nation (RBN), a community of approximately 150 000 Setswana-speaking people with substantial minerals-rich land holdings in South Africa’s North West Province. The Royal Bafokeng Development Trust is the sole shareholder of RBH, whose investment activities are aimed at generating the income required for the funding of sustainable projects that will benefit the Bafokeng community. RBH has assets spread across the financial services, infrastructure, mining, oil and gas services, and industrial sectors. As at 31 December 2015, RBH net asset value was R32bn. www.bafokengholdings.com
Listed on the Eurolist of Euronext Paris and part of the Euronext 100 index, JCDecaux is the number one outdoor advertising company worldwide, leading in Europe, Asia-Pacific, the Middle East and Latin America with 1,078,370 advertising panels in more than 70 countries. JCDecaux is currently the only world-class player to focus exclusively on outdoor advertising and the development of all related activities: street furniture, transport and billboard advertising. In 1964, JCDecaux first invented the concept of advertising street furniture with a simple idea: to provide cities with street furniture free of charge (bus shelters, city information panels, etc) in exchange for exclusive advertising rights in premium locations. JCDecaux is number one worldwide in transport advertising, with advertising concessions in more than 140 airports and 279 metros, buses, trains and tramways. It is number one worldwide for self-service bicycle hire and leads in billboard advertising in Europe. With 12,300 employees, JCDeaux has operations in 3,700 cities with over 10,000 inhabitants and 2014 revenues of €2,813 million. www.jcdecaux.com